Assetmark Inc. boosted its position in shares of Cigna Corp (NYSE:CI) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,788 shares of the health services provider’s stock after purchasing an additional 1,586 shares during the period. Assetmark Inc.’s holdings in Cigna were worth $11,783,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CI. Flagship Harbor Advisors LLC lifted its stake in Cigna by 13.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,089 shares of the health services provider’s stock valued at $171,000 after acquiring an additional 133 shares in the last quarter. Boenning & Scattergood Inc. raised its stake in shares of Cigna by 33.9% during the 2nd quarter. Boenning & Scattergood Inc. now owns 2,370 shares of the health services provider’s stock worth $373,000 after purchasing an additional 600 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Cigna by 2.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 15,041 shares of the health services provider’s stock worth $2,370,000 after purchasing an additional 300 shares during the period. Essex Savings Bank raised its stake in shares of Cigna by 48.7% during the 2nd quarter. Essex Savings Bank now owns 4,829 shares of the health services provider’s stock worth $761,000 after purchasing an additional 1,581 shares during the period. Finally, Bruni J V & Co. Co. raised its stake in shares of Cigna by 53.0% during the 2nd quarter. Bruni J V & Co. Co. now owns 113,845 shares of the health services provider’s stock worth $17,936,000 after purchasing an additional 39,459 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.
CI has been the topic of a number of recent analyst reports. Deutsche Bank initiated coverage on Cigna in a research note on Thursday, September 12th. They set a “buy” rating and a $207.00 target price on the stock. BMO Capital Markets upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research note on Monday, September 30th. Sanford C. Bernstein upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 target price on the stock in a research note on Tuesday, August 6th. Morgan Stanley lifted their target price on Cigna from $207.00 to $208.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Stephens set a $225.00 target price on Cigna and gave the company a “buy” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $210.77.
Shares of NYSE CI traded up $1.57 during trading on Friday, hitting $152.40. The company had a trading volume of 1,829,558 shares, compared to its average volume of 2,229,734. The stock has a 50 day simple moving average of $154.83 and a 200 day simple moving average of $159.23. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. Cigna Corp has a 12 month low of $141.95 and a 12 month high of $226.60. The firm has a market capitalization of $56.49 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.71.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, topping the consensus estimate of $3.74 by $0.56. The firm had revenue of $34.38 billion for the quarter, compared to the consensus estimate of $33.27 billion. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The business’s revenue for the quarter was up 198.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.89 earnings per share. As a group, analysts predict that Cigna Corp will post 16.77 EPS for the current year.
In other Cigna news, CEO David Cordani bought 32,509 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $155.17 per share, with a total value of $5,044,421.53. 0.80% of the stock is currently owned by company insiders.
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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