Westpac Banking Corp lifted its position in Cigna Corp (NYSE:CI) by 21.5% in the first quarter, HoldingsChannel.com reports. The firm owned 109,237 shares of the health services provider’s stock after acquiring an additional 19,357 shares during the period. Westpac Banking Corp’s holdings in Cigna were worth $17,567,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Vanguard Group Inc boosted its holdings in Cigna by 1.5% in the third quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock valued at $3,706,967,000 after acquiring an additional 260,042 shares in the last quarter. Brave Asset Management Inc. bought a new stake in Cigna in the fourth quarter valued at $243,000. Sigma Planning Corp bought a new stake in Cigna in the fourth quarter valued at $230,000. LS Investment Advisors LLC boosted its holdings in Cigna by 55.9% in the fourth quarter. LS Investment Advisors LLC now owns 14,372 shares of the health services provider’s stock valued at $2,730,000 after acquiring an additional 5,153 shares in the last quarter. Finally, ETF Managers Group LLC boosted its holdings in Cigna by 15.6% in the fourth quarter. ETF Managers Group LLC now owns 776 shares of the health services provider’s stock valued at $147,000 after acquiring an additional 105 shares in the last quarter. 88.26% of the stock is owned by hedge funds and other institutional investors.
CI has been the topic of a number of research reports. UBS Group initiated coverage on shares of Cigna in a report on Tuesday, April 23rd. They set a “buy” rating and a $185.00 target price on the stock. ValuEngine cut shares of Cigna from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Goldman Sachs Group cut shares of Cigna from a “conviction-buy” rating to a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of Cigna from a “hold” rating to a “strong-buy” rating and set a $171.00 target price on the stock in a report on Tuesday, April 23rd. Finally, Cantor Fitzgerald restated a “buy” rating and set a $245.00 target price on shares of Cigna in a report on Sunday, April 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $223.15.
Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.16. The company had revenue of $33.43 billion for the quarter, compared to analysts’ expectations of $32.79 billion. Cigna had a net margin of 4.11% and a return on equity of 14.23%. Cigna’s revenue was up 192.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.11 EPS. On average, equities analysts expect that Cigna Corp will post 16.55 EPS for the current fiscal year.
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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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