AMP Capital Investors Ltd raised its holdings in shares of CIGNA Co. (NYSE:CI) by 9.4% during the 2nd quarter, Holdings Channel reports. The firm owned 237,849 shares of the health services provider’s stock after acquiring an additional 20,480 shares during the quarter. AMP Capital Investors Ltd’s holdings in CIGNA were worth $40,422,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sun Life Financial INC increased its position in shares of CIGNA by 254.3% during the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after buying an additional 473 shares during the period. Synovus Financial Corp bought a new stake in shares of CIGNA during the first quarter valued at about $115,000. Signaturefd LLC bought a new stake in shares of CIGNA during the first quarter valued at about $115,000. Elmwood Wealth Management Inc. bought a new stake in shares of CIGNA during the first quarter valued at about $117,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of CIGNA by 3,122.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after buying an additional 687 shares during the period. 89.74% of the stock is currently owned by institutional investors and hedge funds.
In other CIGNA news, Director William D. Zollars sold 265 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $176.93, for a total transaction of $46,886.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric P. Palmer purchased 2,828 shares of CIGNA stock in a transaction on Tuesday, July 31st. The shares were acquired at an average price of $177.61 per share, for a total transaction of $502,281.08. Following the completion of the transaction, the chief financial officer now directly owns 9,678 shares of the company’s stock, valued at $1,718,909.58. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.
CI stock opened at $184.93 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $45.84 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.11 and a beta of 0.63. CIGNA Co. has a 1-year low of $163.02 and a 1-year high of $227.13.
CIGNA (NYSE:CI) last posted its quarterly earnings data on Thursday, August 2nd. The health services provider reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.56. The company had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.20 billion. CIGNA had a net margin of 5.82% and a return on equity of 22.27%. CIGNA’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.91 earnings per share. sell-side analysts predict that CIGNA Co. will post 13.87 earnings per share for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Monday, May 28th. ValuEngine cut CIGNA from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Goldman Sachs Group upgraded CIGNA from a “neutral” rating to a “buy” rating and upped their price target for the company from $193.00 to $212.00 in a research report on Wednesday, June 6th. SunTrust Banks upped their price target on CIGNA to $244.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $224.00 price target on shares of CIGNA in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. CIGNA presently has an average rating of “Buy” and a consensus target price of $221.77.
CIGNA Company Profile
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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