Meiji Yasuda Asset Management Co Ltd. boosted its stake in Cigna Corporation (NYSE:CI) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 14,374 shares of the company’s stock after buying an additional 520 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cigna Corporation were worth $1,917,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. BP PLC bought a new position in shares of Cigna Corporation during the second quarter worth about $4,095,000. Wedge Capital Management L L P NC increased its position in shares of Cigna Corporation by 16.3% in the second quarter. Wedge Capital Management L L P NC now owns 102,939 shares of the company’s stock worth $13,175,000 after buying an additional 14,408 shares in the last quarter. Concert Wealth Management Inc. increased its position in shares of Cigna Corporation by 60.7% in the second quarter. Concert Wealth Management Inc. now owns 5,337 shares of the company’s stock worth $680,000 after buying an additional 2,016 shares in the last quarter. Boston Private Wealth LLC increased its position in shares of Cigna Corporation by 1.4% in the second quarter. Boston Private Wealth LLC now owns 9,662 shares of the company’s stock worth $1,237,000 after buying an additional 135 shares in the last quarter. Finally, BTC Capital Management Inc. increased its position in shares of Cigna Corporation by 5.8% in the second quarter. BTC Capital Management Inc. now owns 28,308 shares of the company’s stock worth $3,625,000 after buying an additional 1,540 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
Shares of Cigna Corporation (NYSE:CI) traded down 1.75% during trading on Friday, hitting $145.55. The stock had a trading volume of 1,918,487 shares. The stock’s 50-day moving average is $143.68 and its 200-day moving average is $133.42. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $150.69. The stock has a market cap of $37.39 billion, a price-to-earnings ratio of 20.24 and a beta of 0.53.
Cigna Corporation (NYSE:CI) last posted its earnings results on Thursday, February 2nd. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.74 by $0.13. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.88 billion. Cigna Corporation had a return on equity of 15.77% and a net margin of 4.71%. Cigna Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.87 earnings per share. On average, equities research analysts expect that Cigna Corporation will post $9.55 EPS for the current year.
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Several research analysts recently weighed in on the company. RBC Capital Markets upgraded Cigna Corporation from a “sector perform” rating to an “outperform” rating and set a $172.00 target price on the stock in a research note on Friday. Jefferies Group LLC restated a “buy” rating and set a $149.00 target price (down from $153.00) on shares of Cigna Corporation in a research note on Monday, November 7th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $164.00 target price (up from $158.00) on shares of Cigna Corporation in a research note on Monday, February 6th. Zacks Investment Research downgraded Cigna Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Citigroup Inc. boosted their target price on Cigna Corporation from $139.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, January 23rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $161.08.
In related news, insider Jason D. Sadler sold 2,000 shares of the stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $138.10, for a total value of $276,200.00. Following the transaction, the insider now owns 32,019 shares of the company’s stock, valued at $4,421,823.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
About Cigna Corporation
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, Other Operations and Corporate.
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