Swiss National Bank lowered its stake in shares of Cigna Corp (NYSE:CI) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277,735 shares of the health services provider’s stock after selling 70,600 shares during the quarter. Swiss National Bank owned about 0.34% of Cigna worth $201,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also modified their holdings of the company. C J Advisory Inc acquired a new stake in Cigna in the first quarter worth about $40,000. TRUE Private Wealth Advisors acquired a new stake in Cigna in the second quarter worth about $40,000. Trustcore Financial Services LLC acquired a new stake in Cigna in the first quarter worth about $49,000. Baldwin Brothers Inc. MA acquired a new stake in Cigna in the first quarter worth about $50,000. Finally, First Personal Financial Services boosted its holdings in Cigna by 78.5% in the first quarter. First Personal Financial Services now owns 341 shares of the health services provider’s stock worth $55,000 after acquiring an additional 150 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.
CI stock traded up $2.61 during trading on Friday, hitting $162.31. 45,798 shares of the company traded hands, compared to its average volume of 1,813,190. The stock’s 50-day simple moving average is $167.64 and its 200 day simple moving average is $165.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $63.99 billion, a PE ratio of 11.41, a P/E/G ratio of 0.87 and a beta of 0.70. Cigna Corp has a 1 year low of $141.95 and a 1 year high of $226.60.
Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.56. The company had revenue of $34.38 billion during the quarter, compared to analysts’ expectations of $33.27 billion. Cigna had a return on equity of 13.24% and a net margin of 3.60%. Cigna’s quarterly revenue was up 198.9% on a year-over-year basis. During the same period last year, the business earned $3.89 earnings per share. Research analysts expect that Cigna Corp will post 16.59 earnings per share for the current year.
CI has been the subject of several recent analyst reports. Zacks Investment Research downgraded Cigna from a “buy” rating to a “hold” rating and set a $164.00 price target for the company. in a report on Tuesday, June 11th. Citigroup reduced their price objective on Cigna from $228.00 to $203.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Goldman Sachs Group cut Cigna from a “conviction-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Sanford C. Bernstein upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a research note on Tuesday, August 6th. Finally, UBS Group began coverage on Cigna in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $214.55.
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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