Howard Hughes Medical Institute cut its stake in Cigna Corporation (NYSE:CI) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,624 shares of the health services provider’s stock after selling 564 shares during the period. Howard Hughes Medical Institute’s holdings in Cigna Corporation were worth $439,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Profund Advisors LLC grew its holdings in shares of Cigna Corporation by 2.8% in the second quarter. Profund Advisors LLC now owns 10,646 shares of the health services provider’s stock worth $1,782,000 after purchasing an additional 287 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Cigna Corporation in the second quarter worth about $20,593,000. BT Investment Management Ltd bought a new position in shares of Cigna Corporation in the second quarter worth about $7,820,000. Amalgamated Bank grew its holdings in shares of Cigna Corporation by 58.4% in the second quarter. Amalgamated Bank now owns 29,084 shares of the health services provider’s stock worth $4,868,000 after purchasing an additional 10,720 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Cigna Corporation by 12.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,749 shares of the health services provider’s stock worth $460,000 after purchasing an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.
Cigna Corporation (NYSE:CI) traded up 0.44% during mid-day trading on Friday, hitting $186.05. 2,462,011 shares of the company’s stock traded hands. Cigna Corporation has a one year low of $115.03 and a one year high of $188.36. The firm’s 50-day moving average price is $179.52 and its 200-day moving average price is $165.10. The stock has a market cap of $46.84 billion, a PE ratio of 21.47 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.43. The business had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 EPS. On average, analysts forecast that Cigna Corporation will post $10.02 EPS for the current fiscal year.
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A number of research firms have recently commented on CI. Piper Jaffray Companies restated a “buy” rating and issued a $191.00 price target on shares of Cigna Corporation in a report on Sunday. Morgan Stanley upped their price target on shares of Cigna Corporation from $188.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. BidaskClub upgraded shares of Cigna Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Jefferies Group LLC restated a “buy” rating and issued a $190.00 price target (down from $199.00) on shares of Cigna Corporation in a report on Friday, August 4th. Finally, Zacks Investment Research cut shares of Cigna Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $182.59.
In other news, CEO David Cordani sold 153,168 shares of Cigna Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $170.20, for a total value of $26,069,193.60. Following the completion of the transaction, the chief executive officer now owns 421,162 shares in the company, valued at approximately $71,681,772.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Isaiah Harris, Jr. sold 247 shares of Cigna Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total value of $45,761.69. The disclosure for this sale can be found here. Insiders sold a total of 223,821 shares of company stock valued at $38,506,877 in the last quarter. Company insiders own 1.30% of the company’s stock.
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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