Wedge Capital Management L L P NC lessened its position in Cigna Corp (NYSE:CI) by 25.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 234,844 shares of the health services provider’s stock after selling 81,002 shares during the period. Wedge Capital Management L L P NC owned approximately 0.06% of Cigna worth $37,000,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. TD Asset Management Inc. lifted its holdings in Cigna by 4.8% during the second quarter. TD Asset Management Inc. now owns 524,401 shares of the health services provider’s stock worth $82,619,000 after acquiring an additional 24,014 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Cigna by 15.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,265,749 shares of the health services provider’s stock worth $199,419,000 after acquiring an additional 172,608 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Cigna by 2.6% during the 2nd quarter. Signaturefd LLC now owns 2,657 shares of the health services provider’s stock worth $419,000 after acquiring an additional 68 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in shares of Cigna during the 2nd quarter worth about $204,000. Finally, Advisor Group Inc. boosted its stake in shares of Cigna by 2.7% during the 2nd quarter. Advisor Group Inc. now owns 18,647 shares of the health services provider’s stock worth $2,939,000 after acquiring an additional 484 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CI traded down $7.49 during mid-day trading on Wednesday, reaching $161.98. 88,258 shares of the company were exchanged, compared to its average volume of 2,557,469. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $62.77 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. The company has a 50-day moving average price of $167.58. Cigna Corp has a 1 year low of $141.95 and a 1 year high of $226.60.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.56. The firm had revenue of $34.38 billion during the quarter, compared to analysts’ expectations of $33.27 billion. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. During the same quarter last year, the company posted $3.89 EPS. On average, research analysts predict that Cigna Corp will post 16.75 earnings per share for the current year.
CI has been the subject of several research analyst reports. ValuEngine downgraded shares of Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Goldman Sachs Group downgraded shares of Cigna from a “conviction-buy” rating to a “buy” rating in a report on Friday, May 3rd. Citigroup cut their price target on shares of Cigna from $228.00 to $203.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Barclays cut their price target on shares of Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $245.00 price target on shares of Cigna in a report on Sunday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $214.55.
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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