Summit Wealth & Retirement Planning Inc. Grows Stock Holdings in Cigna Corp (NYSE:CI)

Summit Wealth & Retirement Planning Inc. increased its position in shares of Cigna Corp (NYSE:CI) by 35.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,037 shares of the health services provider’s stock after buying an additional 2,375 shares during the quarter. Cigna comprises approximately 0.8% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 27th largest position. Summit Wealth & Retirement Planning Inc.’s holdings in Cigna were worth $1,424,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Woods Capital Investors LLC purchased a new stake in Cigna in the second quarter valued at approximately $2,459,000. Teacher Retirement System of Texas raised its position in Cigna by 422.2% in the second quarter. Teacher Retirement System of Texas now owns 91,071 shares of the health services provider’s stock valued at $14,348,000 after purchasing an additional 73,630 shares during the period. FTB Advisors Inc. raised its position in Cigna by 236.9% in the second quarter. FTB Advisors Inc. now owns 1,122 shares of the health services provider’s stock valued at $177,000 after purchasing an additional 789 shares during the period. CIBC Asset Management Inc raised its position in Cigna by 7.9% in the second quarter. CIBC Asset Management Inc now owns 43,097 shares of the health services provider’s stock valued at $6,790,000 after purchasing an additional 3,138 shares during the period. Finally, Securian Asset Management Inc raised its position in Cigna by 0.5% in the second quarter. Securian Asset Management Inc now owns 39,678 shares of the health services provider’s stock valued at $6,251,000 after purchasing an additional 185 shares during the period. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CI traded down $2.88 during trading on Thursday, hitting $159.46. The company’s stock had a trading volume of 25,691 shares, compared to its average volume of 1,877,676. The business has a 50 day moving average price of $168.05 and a two-hundred day moving average price of $165.49. The company has a market capitalization of $61.54 billion, a PE ratio of 11.21, a P/E/G ratio of 0.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. Cigna Corp has a fifty-two week low of $141.95 and a fifty-two week high of $226.60.

Cigna (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.56. The firm had revenue of $34.38 billion during the quarter, compared to the consensus estimate of $33.27 billion. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The company’s revenue was up 198.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.89 earnings per share. As a group, equities analysts expect that Cigna Corp will post 16.75 earnings per share for the current fiscal year.

CI has been the topic of a number of research analyst reports. Citigroup cut their target price on Cigna from $228.00 to $203.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Zacks Investment Research lowered Cigna from a “buy” rating to a “hold” rating and set a $164.00 target price on the stock. in a research report on Tuesday, June 11th. ValuEngine downgraded shares of Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Morgan Stanley dropped their price target on shares of Cigna from $241.00 to $207.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Sanford C. Bernstein upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 price target for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Cigna currently has an average rating of “Buy” and a consensus price target 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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