Ipswich Investment Management Co. Inc. Reduces Position in Cigna Corporation (NYSE:CI)

Ipswich Investment Management Co. Inc. lowered its stake in Cigna Corporation (NYSE:CI) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,639 shares of the health services provider’s stock after selling 33 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Cigna Corporation were worth $777,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CI. BlackRock Inc. raised its stake in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock valued at $2,488,489,000 after buying an additional 16,289,943 shares in the last quarter. Waddell & Reed Financial Inc. raised its stake in Cigna Corporation by 125.8% in the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock valued at $256,306,000 after buying an additional 974,747 shares in the last quarter. Wellington Management Group LLP raised its stake in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock valued at $1,577,075,000 after buying an additional 913,991 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Cigna Corporation by 7,868.4% in the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock valued at $103,772,000 after buying an additional 699,500 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Cigna Corporation by 221.8% in the first quarter. AQR Capital Management LLC now owns 926,328 shares of the health services provider’s stock valued at $135,698,000 after buying an additional 638,426 shares in the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cigna Corporation (NYSE:CI) traded down 0.56% during mid-day trading on Friday, hitting $177.03. The stock had a trading volume of 1,034,361 shares. The stock has a market cap of $44.57 billion, a price-to-earnings ratio of 20.43 and a beta of 0.46. The firm’s 50-day moving average price is $173.66 and its 200 day moving average price is $160.28. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $181.00.

Cigna Corporation (NYSE:CI) last released its earnings results 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. The company had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.98 EPS. Equities analysts forecast that Cigna Corporation will post $10.03 EPS for the current fiscal year.

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CI has been the topic of several research reports. UBS AG reissued a “buy” rating and set a $186.00 price target (up from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. ValuEngine raised Cigna Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and set a $183.00 price target (up from $178.00) on shares of Cigna Corporation in a research report on Friday, May 5th. Stifel Nicolaus upped their price target on Cigna Corporation from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, Zacks Investment Research upgraded Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Tuesday, April 25th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $180.44.

In related news, EVP Lisa R. Bacus sold 11,455 shares of Cigna Corporation stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $161.57, for a total transaction of $1,850,784.35. Following the completion of the sale, the executive vice president now directly owns 24,753 shares of the company’s stock, valued at $3,999,342.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa R. Bacus sold 2,236 shares of Cigna Corporation stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total value of $402,368.20. Following the sale, the executive vice president now directly owns 18,501 shares of the company’s stock, valued at $3,329,254.95. The disclosure for this sale can be found here. Insiders sold a total of 243,463 shares of company stock valued at $41,678,984 over the last three months. Insiders own 1.30% of the company’s stock.

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.

Institutional Ownership by Quarter for Cigna Corporation (NYSE:CI)

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