Regent Investment Management LLC trimmed its position in Cigna Corp (NYSE:CI) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,487 shares of the health services provider’s stock after selling 267 shares during the period. Regent Investment Management LLC’s holdings in Cigna were worth $467,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CI. Guggenheim Capital LLC lifted its holdings in Cigna by 11.2% in the 4th quarter. Guggenheim Capital LLC now owns 27,704 shares of the health services provider’s stock valued at $5,665,000 after purchasing an additional 2,785 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Cigna by 33.6% during the 4th quarter. Advisors Asset Management Inc. now owns 338 shares of the health services provider’s stock worth $69,000 after acquiring an additional 85 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Cigna by 8.0% during the 1st quarter. State of Alaska Department of Revenue now owns 66,292 shares of the health services provider’s stock worth $11,745,000 after acquiring an additional 4,921 shares during the period. IBM Retirement Fund lifted its holdings in shares of Cigna by 54.7% during the 1st quarter. IBM Retirement Fund now owns 9,228 shares of the health services provider’s stock worth $1,635,000 after acquiring an additional 3,264 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Cigna during the 1st quarter worth about $2,350,000. Institutional investors own 88.53% of the company’s stock.
Several research analysts have recently weighed in on the stock. Deutsche Bank cut their price objective on shares of Cigna from $288.00 to $279.00 and set a “buy” rating on the stock in a report on Monday, May 4th. UBS Group cut their price objective on shares of Cigna from $252.00 to $246.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Goldman Sachs Group increased their target price on shares of Cigna from $244.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Morgan Stanley increased their target price on shares of Cigna from $251.00 to $258.00 and gave the stock an “overweight” rating in a research report on Monday, April 13th. Finally, Sanford C. Bernstein downgraded shares of Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 target price for the company. in a research report on Monday, May 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $244.00.
Cigna (NYSE:CI) last posted its earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.15 by $0.66. The company had revenue of $39.27 billion for the quarter, compared to analysts’ expectations of $37.93 billion. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $4.30 earnings per share. As a group, research analysts anticipate that Cigna Corp will post 18.4 earnings per share for the current fiscal year.
In other news, Director John Partridge sold 2,700 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $180.04, for a total transaction of $486,108.00. Following the transaction, the director now directly owns 27,216 shares of the company’s stock, valued at $4,899,968.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Foss purchased 5,460 shares of the stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $187.37 per share, for a total transaction of $1,023,040.20. Following the completion of the acquisition, the director now directly owns 31,642 shares of the company’s stock, valued at approximately $5,928,761.54. The disclosure for this purchase can be found here. Insiders sold 231,802 shares of company stock worth $48,470,825 over the last quarter. 0.90% of the stock is currently owned by company insiders.
Cigna Company Profile
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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