PNC Financial Services Group Inc. decreased its position in shares of Cigna Corporation (NYSE:CI) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 370,689 shares of the health services provider’s stock after selling 14,806 shares during the period. PNC Financial Services Group Inc. owned 0.14% of Cigna Corporation worth $62,049,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in Cigna Corporation during the 1st quarter valued at approximately $102,000. Founders Capital Management acquired a new position in Cigna Corporation during the 1st quarter valued at approximately $117,000. Mckinley Capital Management LLC Delaware acquired a new position in Cigna Corporation during the 1st quarter valued at approximately $122,000. Parallel Advisors LLC increased its stake in Cigna Corporation by 62.3% during the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares in the last quarter. Finally, Guardian Life Insurance Co. of America increased its stake in Cigna Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 990 shares of the health services provider’s stock valued at $145,000 after purchasing an additional 7 shares in the last quarter. 87.96% of the stock is owned by institutional investors.
In other Cigna Corporation news, insider Matthew G. Manders sold 24,357 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $175.01, for a total value of $4,262,718.57. Following the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $8,095,262.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 153,168 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the completion of the transaction, the chief executive officer now directly owns 421,162 shares in the company, valued at $71,681,772.40. The disclosure for this sale can be found here. Insiders sold a total of 223,821 shares of company stock worth $38,506,877 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
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Shares of Cigna Corporation (CI) traded up 0.44% during mid-day trading on Friday, reaching $186.05. 2,462,011 shares of the company were exchanged. The stock has a market capitalization of $46.84 billion, a P/E ratio of 21.47 and a beta of 0.43. The stock has a 50 day moving average price of $179.52 and a 200-day moving average price of $165.10. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $188.36.
Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. The business had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. Analysts predict that Cigna Corporation will post $10.02 earnings per share for the current year.
A number of research analysts have issued reports on the stock. UBS AG restated a “buy” rating and set a $186.00 price target (up previously from $181.00) on shares of Cigna Corporation in a research note on Monday, June 5th. Bank of America Corporation upped their price target on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and set a $183.00 price target on shares of Cigna Corporation in a research note on Thursday, June 8th. ValuEngine lowered shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Citigroup Inc. upped their price target on shares of Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $182.59.
Cigna Corporation Profile
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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