Stratos Wealth Partners LTD. decreased its position in shares of Cigna Corp (NYSE:CI) by 18.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,505 shares of the health services provider’s stock after selling 1,287 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cigna were worth $1,033,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. State of Alaska Department of Revenue lifted its holdings in shares of Cigna by 2.1% in the second quarter. State of Alaska Department of Revenue now owns 67,717 shares of the health services provider’s stock worth $12,707,000 after acquiring an additional 1,425 shares during the last quarter. Pendal Group Ltd lifted its holdings in shares of Cigna by 10.3% in the first quarter. Pendal Group Ltd now owns 3,050 shares of the health services provider’s stock worth $540,000 after acquiring an additional 284 shares during the last quarter. Cortland Associates Inc. MO lifted its holdings in shares of Cigna by 2.6% in the first quarter. Cortland Associates Inc. MO now owns 316,226 shares of the health services provider’s stock worth $56,029,000 after acquiring an additional 8,159 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Cigna by 43.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 72,075 shares of the health services provider’s stock worth $13,525,000 after acquiring an additional 21,727 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Cigna in the second quarter worth about $221,000. 88.53% of the stock is owned by institutional investors and hedge funds.
In related news, CEO David Cordani sold 1,490 shares of Cigna stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $205.00, for a total value of $305,450.00. Following the completion of the sale, the chief executive officer now owns 49,459 shares of the company’s stock, valued at approximately $10,139,095. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William L. Roper sold 2,819 shares of Cigna stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $192.07, for a total transaction of $541,445.33. Following the completion of the sale, the director now directly owns 10,442 shares of the company’s stock, valued at approximately $2,005,594.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 231,802 shares of company stock valued at $48,470,825. Insiders own 0.90% of the company’s stock.
Shares of CI stock opened at $172.69 on Friday. The company has a market cap of $63.72 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 0.85 and a beta of 0.70. Cigna Corp has a 52 week low of $118.50 and a 52 week high of $224.64. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $184.19 and a 200-day moving average of $189.90.
Cigna (NYSE:CI) last announced its quarterly earnings data on Thursday, July 30th. The health services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.15 by $0.66. The company had revenue of $39.27 billion during the quarter, compared to the consensus estimate of $37.93 billion. Cigna had a net margin of 3.41% and a return on equity of 15.89%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.30 EPS. Analysts anticipate that Cigna Corp will post 18.49 earnings per share for the current year.
CI has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Cigna from $215.00 to $242.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. ValuEngine lowered shares of Cigna from a “sell” rating to a “strong sell” rating in a report on Thursday, June 4th. 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 report on Monday, May 4th. Morgan Stanley raised their price objective on shares of Cigna from $251.00 to $258.00 and gave the company an “overweight” rating in a report on Monday, April 13th. Finally, Royal Bank of Canada raised their price objective on shares of Cigna from $249.00 to $266.00 and gave the company an “outperform” rating in a report on Friday, May 1st. 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 given a strong buy rating to the company’s stock. Cigna presently has an average rating of “Buy” and a consensus price target of $244.00.
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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