Groesbeck Investment Management Corp NJ Boosts Stock Position in Cigna Corp (NYSE:CI)

Groesbeck Investment Management Corp NJ raised its stake in shares of Cigna Corp (NYSE:CI) by 19.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,730 shares of the health services provider’s stock after acquiring an additional 598 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Cigna were worth $588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Accurate Investment Solutions Inc. increased its stake in Cigna by 9.5% in the 1st quarter. Accurate Investment Solutions Inc. now owns 706 shares of the health services provider’s stock valued at $114,000 after purchasing an additional 61 shares in the last quarter. Trust Co. of Oklahoma increased its stake in Cigna by 2.1% in the 2nd quarter. Trust Co. of Oklahoma now owns 3,291 shares of the health services provider’s stock valued at $518,000 after purchasing an additional 69 shares in the last quarter. Argent Capital Management LLC increased its stake in Cigna by 1.5% in the 1st quarter. Argent Capital Management LLC now owns 4,686 shares of the health services provider’s stock valued at $754,000 after purchasing an additional 71 shares in the last quarter. ETF Managers Group LLC increased its stake in Cigna by 9.8% in the 1st quarter. ETF Managers Group LLC now owns 852 shares of the health services provider’s stock valued at $137,000 after purchasing an additional 76 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in Cigna by 0.9% in the 2nd quarter. Empirical Finance LLC now owns 9,077 shares of the health services provider’s stock valued at $1,430,000 after purchasing an additional 77 shares in the last quarter. 88.13% of the stock is owned by hedge funds and other institutional investors.

NYSE:CI traded up $2.47 during mid-day trading on Tuesday, hitting $161.47. The company had a trading volume of 104,335 shares, compared to its average volume of 2,240,500. The business has a fifty day simple moving average of $166.42. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.84. Cigna Corp has a 1 year low of $141.95 and a 1 year high of $226.60. The company has a market capitalization of $60.33 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.84 and a beta of 0.70.

Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, beating the consensus estimate of $3.74 by $0.56. Cigna had a return on equity of 13.24% and a net margin of 3.60%. The company had revenue of $34.38 billion for the quarter, compared to analyst estimates of $33.27 billion. During the same period last year, the company posted $3.89 earnings per share. The firm’s revenue was up 198.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cigna Corp will post 16.74 EPS for the current year.

Several equities analysts recently weighed in on CI shares. Goldman Sachs Group downgraded Cigna from a “conviction-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research cut Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price on the stock. in a report on Tuesday, June 11th. Barclays decreased their price objective on Cigna from $220.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley decreased their price objective on Cigna from $241.00 to $207.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Citigroup decreased their price objective on Cigna from $228.00 to $203.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. One research 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. Cigna presently has a consensus rating of “Buy” and a consensus target price of $214.55.

About Cigna

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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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