Rhumbline Advisers Grows Holdings in Cigna Corporation (CI)
Rhumbline Advisers increased its position in shares of Cigna Corporation (NYSE:CI) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 474,745 shares of the health services provider’s stock after buying an additional 21,612 shares during the quarter. Rhumbline Advisers owned about 0.19% of Cigna Corporation worth $88,749,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Cigna Corporation in the 2nd quarter valued at approximately $106,000. Saratoga Research & Investment Management acquired a new stake in Cigna Corporation in the 3rd quarter valued at approximately $112,000. Parallel Advisors LLC increased its holdings in Cigna Corporation by 62.3% in the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Cigna Corporation by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock valued at $167,000 after purchasing an additional 400 shares during the last quarter. Finally, Financial Architects Inc increased its holdings in Cigna Corporation by 186.0% in the 2nd quarter. Financial Architects Inc now owns 1,121 shares of the health services provider’s stock valued at $188,000 after purchasing an additional 729 shares during the last quarter. 89.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cigna Corporation (NYSE:CI) traded up $0.46 during trading hours on Monday, hitting $197.98. 991,000 shares of the stock were exchanged, compared to its average volume of 1,362,323. Cigna Corporation has a 1-year low of $131.03 and a 1-year 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 PE ratio of 19.07, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.47. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. During the same period in the previous year, the business posted $1.94 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. equities research analysts forecast that Cigna Corporation will post 10.34 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Citigroup Inc. lifted their target price on shares of Cigna Corporation from $198.00 to $231.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Jefferies Group LLC lifted their target price on shares of Cigna Corporation from $221.00 to $231.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Morgan Stanley lifted their target price on shares of Cigna Corporation from $195.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price target (up previously from $185.00) on shares of Cigna Corporation in a research note on Friday, November 3rd. Finally, Zacks Investment Research downgraded shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Cigna Corporation currently has a consensus rating of “Buy” and an average target price of $201.50.
In other Cigna Corporation news, Director William D. Zollars sold 1,232 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa R. Bacus sold 2,236 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $179.95, for a total transaction of $402,368.20. Following the completion of the sale, the executive vice president now owns 18,501 shares in the company, valued at $3,329,254.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,715 shares of company stock worth $678,797. Company insiders own 1.30% of the company’s stock.
About Cigna Corporation
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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