Quantbot Technologies LP Has $2.50 Million Stake in Cigna Corporation (CI)
Quantbot Technologies LP lowered its stake in Cigna Corporation (NYSE:CI) by 62.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,909 shares of the health services provider’s stock after selling 24,522 shares during the quarter. Quantbot Technologies LP’s holdings in Cigna Corporation were worth $2,495,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. California Public Employees Retirement System lifted its stake in shares of Cigna Corporation by 1.6% in the 2nd quarter. California Public Employees Retirement System now owns 624,146 shares of the health services provider’s stock valued at $104,476,000 after purchasing an additional 10,100 shares during the period. FIL Ltd increased its holdings in Cigna Corporation by 5.2% during the 2nd quarter. FIL Ltd now owns 2,311,938 shares of the health services provider’s stock worth $386,996,000 after purchasing an additional 113,531 shares in the last quarter. MML Investors Services LLC increased its holdings in Cigna Corporation by 0.8% during the 2nd quarter. MML Investors Services LLC now owns 5,774 shares of the health services provider’s stock worth $967,000 after purchasing an additional 43 shares in the last quarter. ETRADE Capital Management LLC increased its holdings in Cigna Corporation by 15.2% during the 2nd quarter. ETRADE Capital Management LLC now owns 2,957 shares of the health services provider’s stock worth $495,000 after purchasing an additional 390 shares in the last quarter. Finally, FMR LLC increased its holdings in Cigna Corporation by 6.7% during the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after purchasing an additional 432,978 shares in the last quarter. 87.94% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on CI shares. ValuEngine cut Cigna Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Credit Suisse Group assumed coverage on Cigna Corporation in a report on Monday, June 12th. They issued an “outperform” rating and a $185.00 price objective for the company. CIBC raised their target price on shares of Cigna Corporation from $174.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $177.00 target price on shares of Cigna Corporation in a research note on Tuesday, June 13th. Finally, Bank of America Corporation raised their target price on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Cigna Corporation has a consensus rating of “Buy” and a consensus price target of $185.63.
Shares of Cigna Corporation (NYSE:CI) opened at 182.74 on Friday. The firm has a 50-day moving average of $180.07 and a 200 day moving average of $165.77. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $188.36. The stock has a market capitalization of $46.01 billion, a PE ratio of 21.08 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.43. The business had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 earnings per share. Analysts predict that Cigna Corporation will post $10.02 EPS for the current year.
In other Cigna Corporation news, Director William D. Zollars sold 1,232 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total value of $230,667.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason D. Sadler sold 37,756 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $176.16, for a total transaction of $6,651,096.96. Following the completion of the transaction, the insider now owns 47,844 shares of the company’s stock, valued at $8,428,199.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,653 shares of company stock valued at $12,437,684. Company insiders own 1.30% of the company’s stock.
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Cigna Corporation Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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