Landsberg Bennett & Dubbaneh LLC reduced its holdings in Cigna Corp (NYSE:CI) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785 shares of the health services provider’s stock after selling 129 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Cigna were worth $267,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in CI. Nuveen Asset Management LLC lifted its holdings in Cigna by 1,351.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,334,509 shares of the health services provider’s stock worth $367,802,000 after buying an additional 2,173,662 shares in the last quarter. FMR LLC lifted its holdings in Cigna by 21.6% during the 1st quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock worth $1,966,710,000 after buying an additional 2,171,463 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Cigna by 23.8% during the 1st quarter. Nordea Investment Management AB now owns 3,565,966 shares of the health services provider’s stock worth $573,487,000 after buying an additional 686,132 shares in the last quarter. Veritas Asset Management LLP lifted its holdings in Cigna by 10.9% during the 2nd quarter. Veritas Asset Management LLP now owns 5,105,229 shares of the health services provider’s stock worth $804,329,000 after buying an additional 500,100 shares in the last quarter. Finally, RE Advisers Corp acquired a new position in Cigna during the 2nd quarter worth $65,747,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.
CI stock opened at $152.40 on Friday. The business’s fifty day moving average is $154.83 and its 200-day moving average is $159.23. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.84. The company has a market cap 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 Corp has a twelve month low of $141.95 and a twelve month high of $226.60.
In related news, CEO David Cordani purchased 32,509 shares of the business’s stock in a transaction dated 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. Corporate insiders own 0.80% of the company’s stock.
CI has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of Cigna in a report on Wednesday, August 21st. BMO Capital Markets raised Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a report on Monday, September 30th. Sanford C. Bernstein raised Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Tuesday, August 6th. Oppenheimer set a $254.00 price objective on Cigna and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley upped their price objective on Cigna from $207.00 to $208.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $210.77.
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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