Barrow Hanley Mewhinney & Strauss LLC Reduces Stake in Cigna Corporation (CI)

Barrow Hanley Mewhinney & Strauss LLC cut its stake in Cigna Corporation (NYSE:CI) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,974,863 shares of the health services provider’s stock after selling 37,940 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Cigna Corporation were worth $289,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Cigna Corporation by 1.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,112 shares of the health services provider’s stock valued at $309,000 after buying an additional 22 shares during the period. Boys Arnold & Co. Inc. boosted its position in shares of Cigna Corporation by 1.8% in the first quarter. Boys Arnold & Co. Inc. now owns 1,833 shares of the health services provider’s stock valued at $269,000 after buying an additional 33 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Cigna Corporation by 1.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,611 shares of the health services provider’s stock valued at $485,000 after buying an additional 39 shares during the period. IFP Advisors Inc boosted its position in shares of Cigna Corporation by 1.9% in the first quarter. IFP Advisors Inc now owns 2,180 shares of the health services provider’s stock valued at $319,000 after buying an additional 41 shares during the period. Finally, Cleararc Capital Inc. boosted its position in shares of Cigna Corporation by 0.8% in the first quarter. Cleararc Capital Inc. now owns 6,296 shares of the health services provider’s stock valued at $922,000 after buying an additional 52 shares during the period. 86.89% of the stock is owned by institutional investors and hedge funds.

Shares of Cigna Corporation (NYSE CI) opened at 168.26 on Tuesday. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $170.56. The company has a market capitalization of $43.08 billion, a price-to-earnings ratio of 22.46 and a beta of 0.44. The company’s 50-day moving average is $163.21 and its 200 day moving average is $150.70.

Cigna Corporation (NYSE:CI) last posted its quarterly earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The company had revenue of $10.39 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same period last year, the firm posted $2.46 EPS. Cigna Corporation’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Corporation will post $9.76 earnings per share for the current year.

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Several research analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $183.00 target price on shares of Cigna Corporation in a report on Thursday, June 8th. Bank of America Corporation lifted their target price on shares of Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank Of Canada lifted their target price on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Cowen and Company reaffirmed an “outperform” rating and issued a $185.00 target price (up from $160.00) on shares of Cigna Corporation in a report on Thursday, June 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $174.00 target price (up from $163.00) on shares of Cigna Corporation in a report on Monday, June 19th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $174.44.

In other Cigna Corporation news, insider Michael W. Triplett sold 1,439 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $166.89, for a total transaction of $240,154.71. Following the completion of the transaction, the insider now directly owns 26,199 shares of the company’s stock, valued at approximately $4,372,351.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 153,168 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $170.20, for a total transaction of $26,069,193.60. Following the transaction, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at $71,681,772.40. The disclosure for this sale can be found here. Insiders have sold a total of 199,414 shares of company stock valued at $33,503,032 over the last three months. 1.30% of the stock is currently owned by insiders.

Cigna Corporation Company Profile

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, and Other Operations and Corporate.

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Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

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