Insider Selling: Cigna Corporation (CI) CAO Sells 575 Shares of Stock
Cigna Corporation (NYSE:CI) CAO Mary T. Hoeltzel sold 575 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $197.03, for a total value of $113,292.25. Following the sale, the chief accounting officer now directly owns 2,499 shares of the company’s stock, valued at $492,377.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Cigna Corporation (NYSE CI) traded up $0.46 during midday trading on Monday, reaching $197.98. The company’s stock had a trading volume of 991,000 shares, compared to its average volume of 1,362,323. Cigna Corporation has a twelve month low of $131.03 and a twelve month high of $206.45. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $48,811.91, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last released its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.47. Cigna Corporation had a return on equity of 18.85% and a net margin of 5.74%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same quarter last year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. analysts expect that Cigna Corporation will post 10.34 earnings per share for the current year.
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A number of analysts have issued reports on CI shares. Piper Jaffray Companies reissued a “buy” rating and issued a $191.00 target price on shares of Cigna Corporation in a research report on Sunday, September 17th. Zacks Investment Research raised Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research report on Monday, October 9th. ValuEngine downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Jefferies Group LLC raised their target price on Cigna Corporation from $201.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $196.00 target price on shares of Cigna Corporation in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $201.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Cigna Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock valued at $2,867,514,000 after purchasing an additional 424,469 shares in the last quarter. FMR LLC raised its position in Cigna Corporation by 6.7% during the second quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock valued at $1,156,604,000 after purchasing an additional 432,978 shares in the last quarter. JPMorgan Chase & Co. raised its position in Cigna Corporation by 40.8% during the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock valued at $684,413,000 after purchasing an additional 1,184,632 shares in the last quarter. Ameriprise Financial Inc. raised its position in Cigna Corporation by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 3,776,414 shares of the health services provider’s stock valued at $705,889,000 after purchasing an additional 171,712 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Cigna Corporation by 5.2% during the second quarter. TIAA CREF Investment Management LLC now owns 3,655,875 shares of the health services provider’s stock valued at $611,957,000 after purchasing an additional 180,310 shares in the last quarter. Institutional investors and hedge funds own 89.69% of the company’s stock.
Cigna Corporation Company 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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