Today, Advisors Asset Management Inc. decides to keep it stake in Cigna Corp. (CI) to the level of $669,000

Today, Advisors Asset Management Inc. decides to keep it stake in Cigna Corp. (CI) to the level of $669,000

Advisors Asset Management Inc. cut its position in Cigna Corp. (NYSE:CI) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,136 shares of the company’s stock after selling 363 shares during the period. Advisors Asset Management Inc.’s holdings in Cigna Corp. were worth $669,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Bradley Foster & Sargent Inc. CT raised its stake in shares of Cigna Corp. by 31.1% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 25,268 shares of the company’s stock worth $3,293,000 after buying an additional 6,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Cigna Corp. by 45.8% in the third quarter. Wells Fargo & Company MN now owns 2,558,043 shares of the company’s stock worth $333,364,000 after buying an additional 803,049 shares during the last quarter. Jensen Investment Management Inc. raised its stake in shares of Cigna Corp. by 10.7% in the third quarter. Jensen Investment Management Inc. now owns 3,510 shares of the company’s stock worth $457,000 after buying an additional 340 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in shares of Cigna Corp. during the third quarter worth about $248,000. Finally, American Investment Services Inc. acquired a new stake in shares of Cigna Corp. during the third quarter worth about $258,000. Institutional investors and hedge funds own 85.29% of the company’s stock.

Shares of Cigna Corp. (NYSE:CI) traded down 0.62% during mid-day trading on Friday, reaching $138.67. 306,591 shares of the company’s stock traded hands. Cigna Corp. has a 12-month low of $115.03 and a 12-month high of $148.99. The stock has a market capitalization of $35.60 billion, a PE ratio of 18.84 and a beta of 0.50. The company’s 50-day moving average price is $127.74 and its 200-day moving average price is $129.22.

Cigna Corp. (NYSE:CI) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. The business earned $9.90 billion during the quarter, compared to the consensus estimate of $4.37 billion. Cigna Corp. had a net margin of 4.87% and a return on equity of 16.17%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 earnings per share. Analysts anticipate that Cigna Corp. will post $7.98 earnings per share for the current year.

A number of brokerages have issued reports on CI. Jefferies Group reiterated a “buy” rating and issued a $149.00 price target (down previously from $153.00) on shares of Cigna Corp. in a research note on Monday, November 7th. Zacks Investment Research upgraded Cigna Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Leerink Swann restated a “buy” rating and set a $155.00 price objective on shares of Cigna Corp. in a research report on Monday, September 26th. Evercore ISI initiated coverage on Cigna Corp. in a research report on Thursday, September 22nd. They set a “hold” rating and a $134.00 price objective for the company. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $160.00 price objective on shares of Cigna Corp. in a research report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $156.00.

In other Cigna Corp. news, insider Jason D. Sadler sold 4,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $121.80, for a total value of $487,200.00. Following the completion of the transaction, the insider now owns 34,019 shares in the company, valued at $4,143,514.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John M. Murabito sold 58,822 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $125.09, for a total transaction of $7,358,043.98. Following the completion of the transaction, the executive vice president now owns 115,109 shares of the company’s stock, valued at approximately $14,398,984.81. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company 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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