Meeder Asset Management Inc. grew its holdings in Cigna Corp (NYSE:CI) by 2,073.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 413 shares of the health services provider’s stock after purchasing an additional 394 shares during the period. Meeder Asset Management Inc.’s holdings in Cigna were worth $65,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Cigna by 21.6% in the first quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock worth $1,966,710,000 after acquiring an additional 2,171,463 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cigna by 61.3% in the fourth quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock worth $936,405,000 after acquiring an additional 1,876,556 shares during the period. Boston Partners grew its holdings in shares of Cigna by 34.7% in the first quarter. Boston Partners now owns 4,895,908 shares of the health services provider’s stock worth $787,360,000 after acquiring an additional 1,261,911 shares during the period. Veritas Asset Management LLP grew its holdings in shares of Cigna by 3.3% in the first quarter. Veritas Asset Management LLP now owns 4,605,129 shares of the health services provider’s stock worth $740,597,000 after acquiring an additional 146,675 shares during the period. Finally, Sanders Capital LLC grew its holdings in shares of Cigna by 9.2% in the second quarter. Sanders Capital LLC now owns 4,589,017 shares of the health services provider’s stock worth $797,936,000 after acquiring an additional 385,620 shares during the period. 87.64% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on CI shares. Raymond James lifted their price objective on Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stephens set a $225.00 price objective on Cigna and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup reaffirmed a “buy” rating on shares of Cigna in a report on Wednesday, August 21st. Morgan Stanley cut their price objective on Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Goldman Sachs Group lowered Cigna from a “conviction-buy” rating to a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. Cigna has a consensus rating of “Buy” and a consensus price target of $212.82.
Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.56. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The business had revenue of $34.38 billion during the quarter, compared to analyst estimates of $33.27 billion. During the same quarter in the previous year, the company posted $3.89 earnings per share. Cigna’s revenue for the quarter was up 198.9% on a year-over-year basis. Equities analysts forecast that Cigna Corp will post 16.75 earnings per share for the current fiscal year.
Cigna Company 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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