Boston Private Wealth LLC reduced its position in Cigna Corp (NYSE:CI) by 12.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,625 shares of the health services provider’s stock after selling 981 shares during the period. Boston Private Wealth LLC’s holdings in Cigna were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. purchased a new position in Cigna during the second quarter valued at $28,000. Virtus ETF Advisers LLC purchased a new position in Cigna during the second quarter valued at $30,000. Garrett Wealth Advisory Group LLC purchased a new position in Cigna during the third quarter valued at $30,000. Optimum Investment Advisors lifted its position in Cigna by 258.6% during the third quarter. Optimum Investment Advisors now owns 208 shares of the health services provider’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in Cigna during the second quarter valued at $40,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
In other Cigna news, CEO David Cordani purchased 32,509 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $155.17 per share, with a total value of $5,044,421.53. 0.80% of the stock is owned by company insiders.
NYSE:CI opened at $188.20 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $163.40 and its two-hundred day simple moving average is $160.81. The stock has a market cap of $67.91 billion, a PE ratio of 13.23, a P/E/G ratio of 0.92 and a beta of 0.72. Cigna Corp has a 52 week low of $141.95 and a 52 week high of $226.60.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $4.54 EPS for the quarter, beating the Zacks’ consensus estimate of $4.37 by $0.17. The business had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $34.20 billion. Cigna had a return on equity of 12.79% and a net margin of 3.30%. The business’s quarterly revenue was up 213.1% on a year-over-year basis. During the same period last year, the firm earned $3.84 earnings per share. Sell-side analysts anticipate that Cigna Corp will post 16.93 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the company. Raymond James lifted their target price on Cigna from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. ValuEngine upgraded Cigna from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research report on Monday, September 30th. UBS Group lifted their target price on Cigna from $214.00 to $222.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank set a $210.00 target price on Cigna and gave the company a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Cigna currently has an average rating of “Buy” and an average target price of $213.84.
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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