LSV Asset Management Sells 1,169,462 Shares of Cigna Corp (CI)

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LSV Asset Management decreased its position in Cigna Corp (NYSE:CI) by 98.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,023 shares of the health services provider’s stock after selling 1,169,462 shares during the period. LSV Asset Management’s holdings in Cigna were worth $3,702,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its position in shares of Cigna by 42,687.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after purchasing an additional 31,678,514 shares during the period. BlackRock Inc. raised its position in shares of Cigna by 59.4% during the fourth quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after purchasing an additional 10,021,719 shares during the period. Vanguard Group Inc raised its position in shares of Cigna by 1.5% during the third quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock worth $3,706,967,000 after purchasing an additional 260,042 shares during the period. FMR LLC raised its position in shares of Cigna by 12.1% during the fourth quarter. FMR LLC now owns 10,057,798 shares of the health services provider’s stock worth $1,910,176,000 after purchasing an additional 1,087,358 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Cigna by 26.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,891,910 shares of the health services provider’s stock worth $1,308,914,000 after purchasing an additional 1,445,822 shares during the period. Institutional investors and hedge funds own 88.26% of the company’s stock.

NYSE:CI opened at $149.48 on Monday. The company has a market cap of $56.72 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 0.74 and a beta of 0.69. Cigna Corp has a twelve month low of $141.95 and a twelve month high of $226.60. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.16. The firm had revenue of $33.43 billion for the quarter, compared to analyst estimates of $32.79 billion. Cigna had a return on equity of 14.23% and a net margin of 4.11%. The business’s quarterly revenue was up 192.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.11 EPS. Research analysts forecast that Cigna Corp will post 16.54 EPS for the current fiscal year.

In other Cigna news, insider Brian C. Evanko bought 2,000 shares of Cigna stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $163.40 per share, for a total transaction of $326,800.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William D. Zollars sold 272 shares of Cigna stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

A number of equities research analysts have recently commented on CI shares. ValuEngine raised Cigna from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 25th. Morgan Stanley dropped their target price on Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 5th. Goldman Sachs Group reissued a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Zacks Investment Research lowered Cigna from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $245.00 target price on shares of Cigna in a research report on Sunday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $225.85.

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Cigna Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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