Cigna Corporation (CI) Position Trimmed by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. reduced its position in Cigna Corporation (NYSE:CI) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,334 shares of the health services provider’s stock after selling 6,452 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cigna were worth $16,139,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Capstone Investment Advisors Netherlands B.V. purchased a new stake in Cigna in the 2nd quarter worth about $106,000. Saratoga Research & Investment Management purchased a new stake in Cigna in the 3rd quarter worth about $112,000. Horan Capital Advisors LLC. purchased a new position in shares of Cigna during the third quarter worth approximately $123,000. Parallel Advisors LLC increased its position in shares of Cigna by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after acquiring an additional 307 shares during the period. Finally, Acrospire Investment Management LLC increased its position in shares of Cigna by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock worth $167,000 after acquiring an additional 400 shares during the period. 87.85% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on CI. Citigroup raised their target price on shares of Cigna from $198.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Morgan Stanley raised their target price on shares of Cigna from $195.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Jefferies Group raised their target price on shares of Cigna from $221.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price (up from $185.00) on shares of Cigna in a research report on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $201.50.
Cigna Corporation (CI) opened at $203.06 on Wednesday. The stock has a market cap of $50,323.26, a P/E ratio of 19.66, a P/E/G ratio of 1.56 and a beta of 0.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. Cigna Corporation has a 1-year low of $131.03 and a 1-year high of $212.46.
Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. Cigna had a net margin of 5.74% and a return on equity of 18.85%. Cigna’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. equities analysts predict that Cigna Corporation will post 10.34 EPS for the current year.
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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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