Morningstar Investment Services LLC reduced its position in Cigna Corp (NYSE:CI) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,450 shares of the health services provider’s stock after selling 2,337 shares during the quarter. Morningstar Investment Services LLC’s holdings in Cigna were worth $7,399,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC boosted its stake in shares of 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 buying an additional 2,785 shares during the period. Advisors Asset Management Inc. lifted its stake in Cigna by 33.6% during the fourth quarter. Advisors Asset Management Inc. now owns 338 shares of the health services provider’s stock worth $69,000 after purchasing an additional 85 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Cigna by 8.0% during the first quarter. State of Alaska Department of Revenue now owns 66,292 shares of the health services provider’s stock worth $11,745,000 after purchasing an additional 4,921 shares during the last quarter. IBM Retirement Fund lifted its stake in Cigna by 54.7% during the first quarter. IBM Retirement Fund now owns 9,228 shares of the health services provider’s stock worth $1,635,000 after purchasing an additional 3,264 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in Cigna during the first quarter worth approximately $2,350,000. 88.53% of the stock is owned by institutional investors.
In related news, CEO David Cordani sold 1,490 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $205.00, for a total transaction of $305,450.00. Following the transaction, the chief executive officer now owns 49,459 shares of the company’s stock, valued at $10,139,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy C. Wentworth sold 10,611 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $203.89, for a total value of $2,163,476.79. Following the transaction, the insider now directly owns 47,004 shares in the company, valued at approximately $9,583,645.56. The disclosure for this sale can be found here. Insiders have sold 231,802 shares of company stock worth $48,470,825 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.
Shares of NYSE:CI traded down $5.78 during trading on Friday, reaching $172.69. The company had a trading volume of 2,452,731 shares, compared to its average volume of 1,887,986. The firm has a market capitalization of $63.72 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 0.85 and a beta of 0.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.67. The stock’s fifty day moving average price is $184.19 and its 200 day moving average price is $189.90. Cigna Corp has a fifty-two week low of $118.50 and a fifty-two week high of $224.64.
Cigna (NYSE:CI) last released its earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.66. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The business had revenue of $39.27 billion for the quarter, compared to analyst estimates of $37.93 billion. During the same quarter in the previous year, the company posted $4.30 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts anticipate that Cigna Corp will post 18.49 EPS for the current fiscal year.
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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