Jennison Associates LLC increased its position in Cigna Corporation (NYSE:CI) by 66.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,406,356 shares of the company’s stock after buying an additional 561,711 shares during the period. Jennison Associates LLC’s holdings in Cigna Corporation were worth $183,276,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new stake in Cigna Corporation during the second quarter worth $162,107,000. California State Teachers Retirement System boosted its stake in Cigna Corporation by 0.4% in the second quarter. California State Teachers Retirement System now owns 549,028 shares of the company’s stock worth $70,270,000 after buying an additional 2,224 shares in the last quarter. Sanders Capital LLC boosted its stake in Cigna Corporation by 28.0% in the second quarter. Sanders Capital LLC now owns 4,013,588 shares of the company’s stock worth $524,645,000 after buying an additional 876,878 shares in the last quarter. Tobam boosted its stake in Cigna Corporation by 14.7% in the second quarter. Tobam now owns 440,826 shares of the company’s stock worth $56,422,000 after buying an additional 56,622 shares in the last quarter. Finally, Trillium Asset Management LLC boosted its stake in Cigna Corporation by 1.1% in the second quarter. Trillium Asset Management LLC now owns 180,257 shares of the company’s stock worth $23,071,000 after buying an additional 1,997 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.
Cigna Corporation (NYSE:CI) opened at 146.53 on Wednesday. The firm’s 50-day moving average price is $139.14 and its 200 day moving average price is $132.13. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $148.99. The company has a market capitalization of $37.62 billion, a price-to-earnings ratio of 19.91 and a beta of 0.54.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.03. The company earned $9.90 billion during the quarter, compared to the consensus estimate of $4.37 billion. Cigna Corporation had a net margin of 4.87% and a return on equity of 16.17%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 earnings per share. On average, analysts expect that Cigna Corporation will post $7.99 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Cigna Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. increased their price objective on Cigna Corporation from $139.00 to $163.00 and gave the company a “buy” rating in a research report on Monday. Piper Jaffray Companies assumed coverage on Cigna Corporation in a research report on Wednesday, January 4th. They issued an “overweight” rating and a $170.00 price objective on the stock. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $153.00 price objective on shares of Cigna Corporation in a research report on Sunday, October 16th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cigna Corporation has an average rating of “Buy” and a consensus target price of $159.38.
In related news, insider Jason D. Sadler sold 4,000 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $121.80, for a total value of $487,200.00. Following the completion of the sale, the insider now directly owns 34,019 shares in the company, valued at $4,143,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason D. Sadler sold 2,000 shares of the stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $138.10, for a total value of $276,200.00. Following the completion of the sale, the insider now owns 32,019 shares of the company’s stock, valued at $4,421,823.90. The disclosure for this sale can be found here. Insiders have sold 64,822 shares of company stock valued at $8,121,444 over the last quarter. Company 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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