Glenmede Trust Co. NA Grows Position in CIGNA Co. (CI)
Glenmede Trust Co. NA increased its position in shares of CIGNA Co. (NYSE:CI) by 395.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,362 shares of the health services provider’s stock after buying an additional 131,983 shares during the period. Glenmede Trust Co. NA owned about 0.07% of CIGNA worth $28,103,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new stake in shares of CIGNA in the 2nd quarter worth about $102,000. Sun Life Financial INC increased its position in shares of CIGNA by 254.3% in the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after purchasing an additional 473 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of CIGNA by 3,122.7% in the 2nd 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 last quarter. Moneta Group Investment Advisors LLC increased its position in shares of CIGNA by 98.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock worth $133,000 after purchasing an additional 390 shares during the last quarter. Finally, Adviser Investments LLC increased its position in shares of CIGNA by 5,077.8% in the 2nd 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 last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CI traded up $1.09 during midday trading on Friday, hitting $207.09. The company’s stock had a trading volume of 2,600,475 shares, compared to its average volume of 2,350,325. CIGNA Co. has a 1-year low of $163.02 and a 1-year high of $227.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $50.68 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64.
Several research firms have recently weighed in on CI. ValuEngine downgraded shares of CIGNA from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 target price for the company in a research report on Tuesday, August 7th. Cantor Fitzgerald began coverage on shares of CIGNA in a research report on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and issued a $224.00 target price on shares of CIGNA in a research report on Friday, August 3rd. Finally, Leerink Swann boosted their target price on shares of CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, September 21st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $229.73.
In other news, CFO Eric P. Palmer bought 2,828 shares of CIGNA stock in a transaction on Tuesday, July 31st. The stock was purchased at an average cost of $177.61 per share, with a total value of $502,281.08. Following the purchase, the chief financial officer now directly owns 9,678 shares of the company’s stock, valued at approximately $1,718,909.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Zollars sold 238 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $193.70, for a total transaction of $46,100.60. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
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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