Shelter Mutual Insurance Co trimmed its position in Cigna Corp (NYSE:CI) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,036 shares of the health services provider’s stock after selling 1,100 shares during the quarter. Shelter Mutual Insurance Co’s holdings in Cigna were worth $1,739,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Flagship Harbor Advisors LLC increased its stake in Cigna by 13.9% in the second quarter. Flagship Harbor Advisors LLC now owns 1,089 shares of the health services provider’s stock worth $171,000 after purchasing an additional 133 shares during the period. Boenning & Scattergood Inc. lifted its holdings in shares of Cigna by 33.9% during the second quarter. Boenning & Scattergood Inc. now owns 2,370 shares of the health services provider’s stock worth $373,000 after purchasing an additional 600 shares during the period. Sigma Planning Corp lifted its holdings in shares of Cigna by 17.8% during the first quarter. Sigma Planning Corp now owns 1,427 shares of the health services provider’s stock worth $230,000 after purchasing an additional 216 shares during the period. Baldwin Brothers Inc. MA acquired a new stake in shares of Cigna during the first quarter worth about $50,000. Finally, Selway Asset Management lifted its holdings in shares of Cigna by 84.6% during the first quarter. Selway Asset Management now owns 20,197 shares of the health services provider’s stock worth $3,248,000 after purchasing an additional 9,258 shares during the period. 87.92% of the stock is currently owned by institutional investors.
CI has been the subject of a number of research reports. Raymond James lifted their target price on Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Sanford C. Bernstein raised Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 target price for the company in a report on Tuesday, August 6th. Zacks Investment Research downgraded Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a report on Tuesday, June 11th. UBS Group initiated coverage on Cigna in a report on Tuesday, April 23rd. They set a “buy” rating and a $185.00 target price for the company. Finally, Goldman Sachs Group downgraded 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 given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $214.55.
Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.56. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The business had revenue of $34.38 billion for the quarter, compared to the consensus estimate of $33.27 billion. During the same quarter in the prior year, the business posted $3.89 EPS. The business’s revenue for the quarter was up 198.9% on a year-over-year basis. Sell-side analysts forecast that Cigna Corp will post 16.59 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.
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