The Investors Sell Shares of Cigna Corporation (CI) on Strength (CI)

The Investors Sell Shares of Cigna Corporation (CI) on Strength (CI)

Investors sold shares of Cigna Corporation (NYSE:CI) on strength during trading on Wednesday. $44.19 million flowed into the stock on the tick-up and $81.35 million flowed out of the stock on the tick-down, for a money net flow of $37.16 million out of the stock. Of all companies tracked, Cigna Corporation had the 18th highest net out-flow for the day. Cigna Corporation traded up $1.81 for the day and closed at $195.70

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 price objective for the company in a report on Monday, October 9th. Jefferies Group LLC lifted their price objective on shares of Cigna Corporation from $201.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $191.00 price objective on shares of Cigna Corporation in a report on Sunday, September 17th. BMO Capital Markets assumed coverage on shares of Cigna Corporation in a report on Monday, October 16th. They set a “market perform” rating and a $210.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Cigna Corporation from $188.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $193.44.

The company has a 50-day moving average price of $187.06 and a 200 day moving average price of $172.67. The firm has a market cap of $49.27 billion, a P/E ratio of 22.58 and a beta of 0.43.

Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The business had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same quarter last year, the business earned $1.98 earnings per share. Cigna Corporation’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Cigna Corporation will post $10.03 earnings per share for the current year.

In other news, insider Jason D. Sadler sold 37,756 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $176.16, for a total value of $6,651,096.96. Following the sale, the insider now owns 47,844 shares of the company’s stock, valued at $8,428,199.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 247 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total transaction of $45,761.69. The disclosure for this sale can be found here. In the last three months, insiders sold 45,696 shares of company stock worth $8,070,481. Insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Calamos Advisors LLC increased its stake in Cigna Corporation by 3.7% in the 3rd quarter. Calamos Advisors LLC now owns 43,734 shares of the health services provider’s stock worth $8,176,000 after buying an additional 1,559 shares during the period. First Midwest Bank Trust Division increased its stake in Cigna Corporation by 63.0% in the 3rd quarter. First Midwest Bank Trust Division now owns 3,105 shares of the health services provider’s stock worth $580,000 after buying an additional 1,200 shares during the period. Meyer Handelman Co. increased its stake in Cigna Corporation by 79.4% in the 3rd quarter. Meyer Handelman Co. now owns 23,720 shares of the health services provider’s stock worth $4,434,000 after buying an additional 10,500 shares during the period. Korea Investment CORP increased its stake in Cigna Corporation by 1.0% in the 3rd quarter. Korea Investment CORP now owns 149,283 shares of the health services provider’s stock worth $27,907,000 after buying an additional 1,500 shares during the period. Finally, Aperio Group LLC increased its stake in Cigna Corporation by 6.4% in the 3rd quarter. Aperio Group LLC now owns 170,589 shares of the health services provider’s stock worth $31,890,000 after buying an additional 10,238 shares during the period. 88.31% of the stock is currently owned by institutional investors.

Cigna Corporation 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, and Other Operations and Corporate.

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