King Wealth Management Group LLC Continues to Hold Stake in Cigna Corporation (CI)

King Wealth Management Group LLC continued to hold its stake in Cigna Corporation (NYSE:CI) during the first quarter, Holdings Channel reports. The firm owned 3,100 shares of the health services provider’s stock at the end of the first quarter. King Wealth Management Group LLC’s holdings in Cigna Corporation were worth $454,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dodge & Cox purchased a new stake in Cigna Corporation during the fourth quarter valued at about $1,929,534,000. Glenview Capital Management LLC purchased a new stake in Cigna Corporation during the fourth quarter valued at about $755,266,000. Norges Bank purchased a new stake in Cigna Corporation during the fourth quarter valued at about $348,456,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Cigna Corporation during the fourth quarter valued at about $126,956,000. Finally, Wellington Management Group LLP boosted its stake in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock valued at $1,577,075,000 after buying an additional 913,991 shares during the period. 86.89% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

Cigna Corporation (NYSE CI) traded down 0.31% on Tuesday, reaching $169.74. 298,640 shares of the company’s stock were exchanged. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $170.56. The firm has a market capitalization of $43.46 billion, a price-to-earnings ratio of 22.66 and a beta of 0.44. The stock’s 50 day moving average price is $162.87 and its 200 day moving average price is $150.43.

Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, May 5th. The health services provider reported $2.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The business had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $10.11 billion. During the same quarter last year, the company earned $2.46 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts expect that Cigna Corporation will post $9.73 earnings per share for the current year.

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CI has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Cigna Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Bank of America Corporation initiated coverage on shares of Cigna Corporation in a research report on Monday, March 13th. They set a “buy” rating and a $175.00 price objective for the company. They noted that the move was a valuation call. Deutsche Bank AG assumed coverage on shares of Cigna Corporation in a research report on Wednesday, April 5th. They set a “buy” rating and a $172.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and set a $178.00 price target (up from $172.00) on shares of Cigna Corporation in a research note on Sunday, April 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $172.89.

In related news, EVP Lisa R. Bacus sold 11,455 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $161.57, for a total value of $1,850,784.35. Following the sale, the executive vice president now owns 24,753 shares of the company’s stock, valued at approximately $3,999,342.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicole S. Jones sold 20,312 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $160.04, for a total transaction of $3,250,732.48. Following the completion of the sale, the executive vice president now directly owns 44,737 shares in the company, valued at approximately $7,159,709.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,246 shares of company stock worth $7,433,839. Corporate insiders own 1.30% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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