Boston Partners lowered its position in shares of Cigna Corporation (NYSE:CI) by 20.5% during the second quarter, Holdings Channel reports. The firm owned 2,867,074 shares of the health services provider’s stock after selling 737,619 shares during the period. Boston Partners’ holdings in Cigna Corporation were worth $479,919,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new position in Cigna Corporation during the first quarter worth approximately $102,000. Baystate Wealth Management LLC raised its position in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock worth $116,000 after buying an additional 628 shares during the period. Founders Capital Management purchased a new position in Cigna Corporation during the first quarter worth approximately $117,000. Mckinley Capital Management LLC Delaware purchased a new position in Cigna Corporation during the first quarter worth approximately $122,000. Finally, Guardian Life Insurance Co. of America raised its position in Cigna Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock worth $145,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 86.91% of the company’s stock.
Cigna Corporation (NYSE CI) opened at 178.08 on Thursday. The stock has a market cap of $45.59 billion, a PE ratio of 23.78 and a beta of 0.46. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $178.50. The company’s 50 day moving average is $171.96 and its 200 day moving average is $158.84.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. Cigna Corporation had a net margin of 7.46% and a return on equity of 17.40%. The company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same quarter last year, the business posted $1.98 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts anticipate that Cigna Corporation will post $10.00 EPS for the current fiscal year.
A number of analysts have recently issued reports on CI shares. UBS AG reaffirmed a “buy” rating and set a $186.00 price objective (up from $181.00) on shares of Cigna Corporation in a report on Monday, June 5th. Bank of America Corporation lifted their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $183.00 price objective on shares of Cigna Corporation in a report on Thursday, June 8th. ValuEngine downgraded shares of Cigna Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Citigroup Inc. lifted their price objective on shares of Cigna Corporation from $185.00 to $198.00 and gave the stock a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $180.06.
In other Cigna Corporation news, VP Mary T. Hoeltzel sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $166.70, for a total transaction of $83,350.00. Following the transaction, the vice president now owns 2,449 shares of the company’s stock, valued at approximately $408,248.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew G. Manders sold 6,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $165.00, for a total transaction of $990,000.00. Following the transaction, the insider now directly owns 33,799 shares in the company, valued at approximately $5,576,835. The disclosure for this sale can be found here. Insiders have sold a total of 257,314 shares of company stock valued at $43,786,762 in the last quarter. 1.30% of the stock is currently owned by company insiders.
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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