Tompkins Financial Corp Cuts Position in Cigna Corp (NYSE:CI)

Tompkins Financial Corp reduced its position in shares of Cigna Corp (NYSE:CI) by 29.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 389 shares of the health services provider’s stock after selling 161 shares during the period. Tompkins Financial Corp’s holdings in Cigna were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Campbell Wealth Management acquired a new position in shares of Cigna during the 2nd quarter worth $26,000. Truvestments Capital LLC purchased a new stake in shares of Cigna during the 1st quarter worth about $28,000. 1776 Wealth LLC acquired a new stake in Cigna during the 1st quarter worth approximately $32,000. NuWave Investment Management LLC acquired a new stake in Cigna during the 2nd quarter worth approximately $36,000. Finally, American Research & Management Co. purchased a new position in Cigna in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.

Shares of NYSE:CI opened at $172.69 on Friday. The company has a market capitalization of $63.72 billion, a PE ratio of 12.29, a P/E/G ratio of 0.87 and a beta of 0.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.67 and a current ratio of 0.74. The company’s fifty day moving average is $184.19 and its 200-day moving average is $189.90. Cigna Corp has a 52 week low of $118.50 and a 52 week high of $224.64.

Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, July 30th. The health services provider reported $5.81 EPS for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.66. The firm had revenue of $39.27 billion for the quarter, compared to analyst estimates of $37.93 billion. Cigna had a net margin of 3.41% and a return on equity of 15.89%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.30 earnings per share. On average, analysts forecast that Cigna Corp will post 18.4 EPS for the current year.

Several equities research analysts have recently issued reports on CI shares. Deutsche Bank dropped their price objective on shares of Cigna from $288.00 to $279.00 and set a “buy” rating for the company in a research report on Monday, May 4th. UBS Group lowered their price target on Cigna from $252.00 to $246.00 and set a “buy” rating for the company in a report on Friday, June 5th. Sanford C. Bernstein cut Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price objective on the stock. in a research note on Monday, May 4th. Royal Bank of Canada increased their target price on Cigna from $249.00 to $266.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Goldman Sachs Group raised their target price on Cigna from $244.00 to $264.00 and gave the company a “buy” rating in a report on Friday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $244.00.

In related news, Director William L. Roper sold 2,819 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $192.07, for a total transaction of $541,445.33. Following the transaction, the director now owns 10,442 shares in the company, valued at approximately $2,005,594.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John M. Murabito sold 4,338 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $215.00, for a total transaction of $932,670.00. Following the sale, the executive vice president now directly owns 56,762 shares in the company, valued at approximately $12,203,830. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 231,802 shares of company stock worth $48,470,825. 0.90% of the stock is owned by corporate insiders.

Cigna 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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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