Trading Report: The Essex Financial Services Inc. Holds Position in Cigna Corp. (CI)

The Essex Financial Services Inc. Holds Position in Cigna Corp. (CI)

Essex Financial Services Inc. continued to hold its stake in Cigna Corp. (NYSE:CI) during the second quarter, Holdings Channel reports. The firm owned 9,922 shares of the company’s stock at the end of the second quarter. Essex Financial Services Inc.’s holdings in Cigna Corp. were worth $1,270,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in Cigna Corp. by 0.3% in the first quarter. Dodge & Cox now owns 13,554,225 shares of the company’s stock valued at $1,860,182,000 after buying an additional 38,360 shares during the period. Swedbank boosted its stake in Cigna Corp. by 0.3% in the second quarter. Swedbank now owns 3,820,063 shares of the company’s stock valued at $488,930,000 after buying an additional 12,674 shares during the period. Geode Capital Management LLC boosted its stake in Cigna Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 1,989,502 shares of the company’s stock valued at $272,460,000 after buying an additional 16,306 shares during the period. UBS Group AG boosted its stake in Cigna Corp. by 58.4% in the first quarter. UBS Group AG now owns 1,196,112 shares of the company’s stock valued at $164,155,000 after buying an additional 441,022 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Cigna Corp. by 8.8% in the second quarter. Nordea Investment Management AB now owns 1,157,734 shares of the company’s stock valued at $148,178,000 after buying an additional 93,430 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

Shares of Cigna Corp. (NYSE:CI) traded down 0.21% during mid-day trading on Friday, hitting $120.90. 570,185 shares of the stock traded hands. The stock has a market cap of $31.02 billion, a P/E ratio of 15.68 and a beta of 0.43. The firm’s 50 day moving average price is $128.53 and its 200-day moving average price is $131.13. Cigna Corp. has a 12-month low of $120.09 and a 12-month high of $148.99.

Cigna Corp. (NYSE:CI) last announced its earnings results on Friday, July 29th. The company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.39 by $0.41. The firm earned $9.89 billion during the quarter, compared to analysts’ expectations of $9.98 billion. Cigna Corp. had a net margin of 5.16% and a return on equity of 17.60%. Cigna Corp.’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.55 earnings per share. Analysts predict that Cigna Corp. will post $7.99 earnings per share for the current year.

Several equities research analysts have recently issued reports on CI shares. Wolfe Research started coverage on shares of Cigna Corp. in a research report on Tuesday, June 28th. They set an “outperform” rating and a $172.00 price objective for the company. Leerink Swann decreased their price objective on shares of Cigna Corp. from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Monday, August 1st. Evercore ISI started coverage on shares of Cigna Corp. in a research report on Thursday, September 22nd. They set a “hold” rating and a $134.00 price objective for the company. Zacks Investment Research raised shares of Cigna Corp. from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Tuesday, July 5th. Finally, William Blair reaffirmed a “buy” rating on shares of Cigna Corp. in a research report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $157.65.

In other Cigna Corp. news, VP Mary T. Hoeltzel sold 500 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $132.28, for a total transaction of $66,140.00. Following the transaction, the vice president now directly owns 4,017 shares in the company, valued at approximately $531,368.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Cigna Corp. 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, Other Operations and Corporate.

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