CIGNA Co. (NYSE:CI) Stake Lessened by Tredje AP fonden
Tredje AP fonden reduced its holdings in CIGNA Co. (NYSE:CI) by 63.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,263 shares of the health services provider’s stock after selling 26,615 shares during the period. Tredje AP fonden’s holdings in CIGNA were worth $2,594,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CI. Synovus Financial Corp acquired a new stake in CIGNA in the first quarter worth $115,000. Signaturefd LLC acquired a new stake in CIGNA in the first quarter worth $115,000. Elmwood Wealth Management Inc. acquired a new stake in CIGNA in the first quarter worth $117,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in CIGNA by 3,122.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock worth $120,000 after purchasing an additional 687 shares during the period. Finally, Adviser Investments LLC raised its holdings in CIGNA by 5,077.8% in the second quarter. Adviser Investments LLC now owns 932 shares of the health services provider’s stock worth $158,000 after purchasing an additional 914 shares during the period. Institutional investors and hedge funds own 89.74% of the company’s stock.
Several research firms have weighed in on CI. SunTrust Banks increased their target price on shares of CIGNA to $244.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Jefferies Financial Group reissued a “buy” rating and set a $224.00 price objective on shares of CIGNA in a research report on Friday, August 3rd. ValuEngine raised shares of CIGNA from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price objective for the company in a research report on Tuesday, August 7th. Finally, Goldman Sachs Group raised shares of CIGNA from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $193.00 to $212.00 in a research report on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. CIGNA presently has a consensus rating of “Buy” and a consensus price target of $221.77.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, August 2nd. The health services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.56. CIGNA had a net margin of 5.82% and a return on equity of 22.27%. The company had revenue of $11.50 billion during the quarter, compared to the consensus estimate of $11.20 billion. During the same quarter last year, the firm posted $2.91 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. equities research analysts forecast that CIGNA Co. will post 13.87 EPS for the current year.
In other CIGNA news, CFO Eric P. Palmer acquired 2,828 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was acquired at an average price of $177.61 per share, for a total transaction of $502,281.08. Following the purchase, the chief financial officer now directly owns 9,678 shares of the company’s stock, valued at $1,718,909.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.
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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