Cambridge Investment Research Advisors Inc. lessened its position in Cigna Corp (NYSE:CI) by 50.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,190 shares of the health services provider’s stock after selling 22,937 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Cigna were worth $3,932,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Braun Bostich & Associates Inc. purchased a new position in Cigna in the 4th quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in Cigna in the 1st quarter valued at about $28,000. 1776 Wealth LLC bought a new position in Cigna in the 1st quarter worth about $32,000. Procyon Private Wealth Partners LLC purchased a new position in shares of Cigna during the fourth quarter worth approximately $35,000. Finally, Wealth Quarterback LLC purchased a new position in shares of Cigna during the fourth quarter worth approximately $37,000. Institutional investors own 89.71% of the company’s stock.
In other news, Director William L. Roper sold 2,819 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $192.07, for a total value of $541,445.33. Following the completion of the transaction, the director now directly owns 10,442 shares in the company, valued at $2,005,594.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John M. Murabito sold 10,000 shares of Cigna stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $209.00, for a total value of $2,090,000.00. Following the sale, the executive vice president now directly owns 60,969 shares of the company’s stock, valued at approximately $12,742,521. The disclosure for this sale can be found here. Insiders have sold a total of 119,746 shares of company stock worth $23,449,093 in the last 90 days. 0.90% of the stock is currently owned by company insiders.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, April 30th. The health services provider reported $4.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.35 by $0.34. The firm had revenue of $38.39 billion for the quarter, compared to the consensus estimate of $37.09 billion. Cigna had a net margin of 3.19% and a return on equity of 15.05%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.90 earnings per share. As a group, sell-side analysts predict that Cigna Corp will post 18.41 EPS for the current fiscal year.
Several research analysts recently issued reports on CI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $255.00 price objective (up previously from $245.00) on shares of Cigna in a research note on Thursday, February 6th. Sanford C. Bernstein downgraded Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price objective for the company. in a report on Monday, May 4th. Deutsche Bank lowered their price objective on shares of Cigna from $288.00 to $279.00 and set a “buy” rating for the company in a research note on Monday, May 4th. SunTrust Banks cut their target price on shares of Cigna from $280.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, UBS Group boosted their price target on shares of Cigna from $222.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Cigna presently has a consensus rating of “Buy” and a consensus price target of $241.43.
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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