Scotia Capital Inc. grew its holdings in shares of Cigna Corp (NYSE:CI) by 5.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,012 shares of the health services provider’s stock after purchasing an additional 1,205 shares during the period. Scotia Capital Inc.’s holdings in Cigna were worth $3,468,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Flagship Harbor Advisors LLC increased its holdings in shares of Cigna by 13.9% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,089 shares of the health services provider’s stock worth $171,000 after acquiring an additional 133 shares during the period. Boenning & Scattergood Inc. grew its position in Cigna by 33.9% in the 2nd quarter. Boenning & Scattergood Inc. now owns 2,370 shares of the health services provider’s stock valued at $373,000 after buying an additional 600 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Cigna by 2.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,041 shares of the health services provider’s stock valued at $2,370,000 after buying an additional 300 shares in the last quarter. Essex Savings Bank grew its position in Cigna by 48.7% in the 2nd quarter. Essex Savings Bank now owns 4,829 shares of the health services provider’s stock valued at $761,000 after buying an additional 1,581 shares in the last quarter. Finally, Sigma Planning Corp grew its position in Cigna by 17.8% in the 1st quarter. Sigma Planning Corp now owns 1,427 shares of the health services provider’s stock valued at $230,000 after buying an additional 216 shares in the last quarter. 87.46% of the stock is currently owned by institutional investors.
CI has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research report on Tuesday, June 11th. Stephens set a $225.00 price objective on shares of Cigna and gave the company a “buy” rating in a research report on Friday, August 23rd. Sanford C. Bernstein upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley reduced their price objective on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $214.90.
Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.56. The business had revenue of $34.38 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.89 EPS. As a group, equities analysts predict that Cigna Corp will post 16.75 earnings per share for the current fiscal year.
In other news, CEO David Cordani bought 32,509 shares of the business’s stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $155.17 per share, for a total transaction of $5,044,421.53. Insiders own 0.80% of the company’s stock.
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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