Northwestern Mutual Wealth Management Co. lessened its position in Cigna Corp (NYSE:CI) by 56.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,608 shares of the health services provider’s stock after selling 12,600 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cigna were worth $1,546,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Clarfeld Financial Advisors LLC purchased a new stake in Cigna during the fourth quarter valued at approximately $25,000. 1 North Wealth Services LLC purchased a new stake in shares of Cigna in the fourth quarter worth $25,000. Private Ocean LLC purchased a new stake in shares of Cigna in the fourth quarter worth $26,000. Delta Asset Management LLC TN purchased a new stake in shares of Cigna in the fourth quarter worth $28,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Cigna in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Zacks Investment Research lowered shares of Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Citigroup dropped their target price on shares of Cigna from $228.00 to $203.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. ValuEngine lowered shares of Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. Finally, UBS Group began coverage on shares of Cigna in a research report on Tuesday, April 23rd. They set a “buy” rating and a $185.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $223.15.
CI stock traded down $3.17 during trading on Wednesday, hitting $156.91. 1,530,300 shares of the company’s stock traded hands, compared to its average volume of 2,690,100. Cigna Corp has a 52 week low of $141.95 and a 52 week high of $226.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a fifty day simple moving average of $155.17. The firm has a market capitalization of $60.89 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.79 and a beta of 0.70.
Cigna (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.16. The firm had revenue of $33.43 billion during the quarter, compared to analyst estimates of $32.79 billion. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The business’s revenue was up 192.9% on a year-over-year basis. During the same quarter last year, the business earned $4.11 EPS. As a group, analysts expect that Cigna Corp will post 16.56 earnings per share for the current year.
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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