Retirement Systems of Alabama raised its position in Cigna Corp. (NYSE:CI) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 130,773 shares of the company’s stock after buying an additional 686 shares during the period. Retirement Systems of Alabama’s holdings in Cigna Corp. were worth $16,738,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pacad Investment Ltd. purchased a new stake in Cigna Corp. during the first quarter valued at $1,715,000. Ngam Advisors L.P. raised its stake in Cigna Corp. by 32.4% in the first quarter. Ngam Advisors L.P. now owns 17,545 shares of the company’s stock worth $2,408,000 after buying an additional 4,291 shares during the last quarter. Teachers Advisors Inc. raised its stake in Cigna Corp. by 17.2% in the first quarter. Teachers Advisors Inc. now owns 425,424 shares of the company’s stock worth $58,385,000 after buying an additional 62,444 shares during the last quarter. FDO Partners LLC bought a new stake in Cigna Corp. during the first quarter worth approximately $908,000. Finally, Howard Hughes Medical Institute bought a new stake in Cigna Corp. during the first quarter worth approximately $333,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.
Cigna Corp. (NYSE:CI) traded down 0.37% during midday trading on Friday, hitting $130.32. The stock had a trading volume of 1,415,939 shares. The stock has a market cap of $33.44 billion, a P/E ratio of 16.90 and a beta of 0.54. Cigna Corp. has a 12-month low of $121.87 and a 12-month high of $148.99. The company’s 50-day moving average price is $130.25 and its 200 day moving average price is $131.94.
Cigna Corp. (NYSE:CI) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by $0.41. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. The business had revenue of $9.89 billion for the quarter, compared to analysts’ expectations of $9.98 billion. During the same quarter in the prior year, the firm posted $2.55 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Cigna Corp. will post $7.99 earnings per share for the current fiscal year.
A number of research firms recently commented on CI. Goldman Sachs Group Inc. raised Cigna Corp. from a “buy” rating to a “conviction-buy” rating and decreased their price objective for the company from $170.00 to $165.00 in a research note on Friday, July 22nd. Zacks Investment Research lowered Cigna Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $149.00 price objective on shares of Cigna Corp. in a research note on Friday, July 8th. Leerink Swann reaffirmed a “buy” rating and set a $155.00 price objective on shares of Cigna Corp. in a research note on Monday. Finally, Citigroup Inc. decreased their price objective on Cigna Corp. from $174.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $157.65.
In other news, VP Mary T. Hoeltzel sold 500 shares of Cigna Corp. stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $132.28, for a total transaction of $66,140.00. Following the transaction, the vice president now owns 4,017 shares in the company, valued at $531,368.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.
About Cigna Corp.
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, Other Operations and Corporate.
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