Shelton Capital Management Acquires New Stake in Cigna Corporation (CI)

Shelton Capital Management acquired a new stake in shares of Cigna Corporation (NYSE:CI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,081 shares of the health services provider’s stock, valued at approximately $348,000.

A number of other institutional investors also recently modified their holdings of CI. Spot Trading L.L.C. lifted its position in Cigna Corporation by 108.9% during the first quarter. Spot Trading L.L.C. now owns 1,998 shares of the health services provider’s stock valued at $293,000 after purchasing an additional 24,425 shares during the period. Victory Capital Management Inc. lifted its position in Cigna Corporation by 8.0% during the first quarter. Victory Capital Management Inc. now owns 12,316 shares of the health services provider’s stock valued at $1,804,000 after purchasing an additional 911 shares during the period. Alliancebernstein L.P. lifted its position in Cigna Corporation by 8.7% during the first quarter. Alliancebernstein L.P. now owns 3,416,065 shares of the health services provider’s stock valued at $500,419,000 after purchasing an additional 274,435 shares during the period. AXA lifted its position in Cigna Corporation by 3.7% during the first quarter. AXA now owns 182,885 shares of the health services provider’s stock valued at $26,791,000 after purchasing an additional 6,603 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its position in Cigna Corporation by 1.3% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,280 shares of the health services provider’s stock valued at $1,213,000 after purchasing an additional 110 shares during the period. Institutional investors own 87.94% of the company’s stock.

In other Cigna Corporation news, Chairman Isaiah Harris, Jr. sold 247 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $185.27, for a total transaction of $45,761.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Zollars sold 1,232 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $187.23, for a total transaction of $230,667.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,653 shares of company stock valued at $12,437,684. Company insiders own 1.30% of the company’s stock.

Cigna Corporation (NYSE:CI) opened at 186.96 on Friday. Cigna Corporation has a 52-week low of $115.03 and a 52-week high of $193.00. The company has a market capitalization of $47.07 billion, a P/E ratio of 21.57 and a beta of 0.43. The firm has a 50-day moving average of $184.96 and a 200 day moving average of $169.85.

Cigna Corporation (NYSE:CI) last posted its earnings results on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.43. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The firm had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the previous year, the business posted $1.98 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that Cigna Corporation will post $10.03 earnings per share for the current fiscal year.

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A number of research analysts recently weighed in on the stock. Bank of America Corporation increased their price objective on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. ValuEngine downgraded shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Citigroup Inc. increased their price objective on shares of Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $190.00 price objective (down previously from $199.00) on shares of Cigna Corporation in a research report on Friday, August 4th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $185.00 price target on shares of Cigna Corporation in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $190.27.

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.

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

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