Horan Capital Advisors LLC. Takes $106,000 Position in Cigna Corp (NYSE:CI)

Horan Capital Advisors LLC. acquired a new stake in shares of Cigna Corp (NYSE:CI) in the third quarter, Holdings Channel.com reports. The firm acquired 699 shares of the health services provider’s stock, valued at approximately $106,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. acquired a new position in Cigna in the second quarter worth about $28,000. Virtus ETF Advisers LLC acquired a new position in Cigna in the second quarter worth about $30,000. Garrett Wealth Advisory Group LLC acquired a new position in Cigna in the third quarter worth about $30,000. Optimum Investment Advisors raised its position in Cigna by 258.6% in the third quarter. Optimum Investment Advisors now owns 208 shares of the health services provider’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in Cigna in the second quarter worth about $40,000. 87.45% of the stock is owned by institutional investors and hedge funds.

In related news, CEO David Cordani purchased 32,509 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $155.17 per share, with a total value of $5,044,421.53. 0.80% of the stock is owned by corporate insiders.

Cigna stock traded up $4.86 during trading hours on Tuesday, hitting $171.60. 92,442 shares of the stock were exchanged, compared to its average volume of 2,167,046. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $63.29 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.85 and a beta of 0.71. Cigna Corp has a 12 month low of $141.95 and a 12 month high of $226.60. The business’s 50-day moving average is $156.46 and its two-hundred day moving average is $159.20.

Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $4.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.56. Cigna had a net margin of 3.60% and a return on equity of 13.24%. The firm had revenue of $34.38 billion for the quarter, compared to analysts’ expectations of $33.27 billion. During the same period in the prior year, the firm earned $3.89 earnings per share. The company’s quarterly revenue was up 198.9% compared to the same quarter last year. On average, equities analysts predict that Cigna Corp will post 16.77 earnings per share for the current fiscal year.

CI has been the subject of several recent research reports. Raymond James increased their price target on shares of Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research report on Monday, September 30th. Deutsche Bank began coverage on shares of Cigna in a research report on Thursday, September 12th. They issued a “buy” rating and a $207.00 price target for the company. Morgan Stanley upped their price objective on shares of Cigna from $207.00 to $208.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Mizuho began coverage on shares of Cigna in a research note on Thursday, October 17th. They set a “buy” rating and a $180.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Cigna presently has an average rating of “Buy” and an average price target of $208.96.

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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