GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Cigna Corp (NYSE:CI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,300 shares of the health services provider’s stock, valued at approximately $205,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Cigna by 21.6% in the first quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock valued at $1,966,710,000 after buying an additional 2,171,463 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cigna by 61.3% during the fourth quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock valued at $936,405,000 after purchasing an additional 1,876,556 shares during the period. Boston Partners raised its holdings in shares of Cigna by 34.7% during the first quarter. Boston Partners now owns 4,895,908 shares of the health services provider’s stock valued at $787,360,000 after purchasing an additional 1,261,911 shares during the period. Veritas Asset Management LLP raised its holdings in shares of Cigna by 3.3% during the first quarter. Veritas Asset Management LLP now owns 4,605,129 shares of the health services provider’s stock valued at $740,597,000 after purchasing an additional 146,675 shares during the period. Finally, Sanders Capital LLC raised its holdings in shares of Cigna by 9.2% during the second quarter. Sanders Capital LLC now owns 4,589,017 shares of the health services provider’s stock valued at $797,936,000 after purchasing an additional 385,620 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.
Several brokerages have recently weighed in on CI. Citigroup dropped their price objective on shares of Cigna from $228.00 to $203.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. ValuEngine lowered shares of Cigna from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Morgan Stanley dropped their price objective on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Raymond James upped their price objective on shares of Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Goldman Sachs Group lowered shares of Cigna from a “conviction-buy” rating to a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Cigna currently has a consensus rating of “Buy” and a consensus target price of $214.55.
Shares of CI traded up $2.61 on Monday, reaching $163.85. The company’s stock had a trading volume of 24,832 shares, compared to its average volume of 1,880,096. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. Cigna Corp has a twelve month low of $141.95 and a twelve month high of $226.60. The stock has a market capitalization of $60.30 billion, a PE ratio of 11.53, a PEG ratio of 0.81 and a beta of 0.70. The firm has a fifty day moving average of $167.71 and a 200-day moving average of $165.89.
Cigna (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.56. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The company had revenue of $34.38 billion for the quarter, compared to analyst estimates of $33.27 billion. During the same quarter in the prior year, the business posted $3.89 EPS. The firm’s revenue was up 198.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cigna Corp will post 16.75 EPS for the current fiscal year.
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.
Featured Story: Oversold
Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.