Par Capital Management Inc buys $279,951,000 stake in CIGNA Corporation (CI)

CIGNA Corporation (CI) : Par Capital Management Inc scooped up 1,098,247 additional shares in CIGNA Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,100,000 shares of CIGNA Corporation which is valued at $279,951,000.CIGNA Corporation makes up approximately 4.50% of Par Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Brandywine Global Investment Management boosted its stake in CI in the latest quarter, The investment management firm added 34,765 additional shares and now holds a total of 145,362 shares of CIGNA Corporation which is valued at $19,378,208. CIGNA Corporation makes up approx 0.12% of Brandywine Global Investment Management’s portfolio.Employees Retirement System Of Texas boosted its stake in CI in the latest quarter, The investment management firm added 28,100 additional shares and now holds a total of 94,100 shares of CIGNA Corporation which is valued at $12,544,471. CIGNA Corporation makes up approx 0.17% of Employees Retirement System Of Texas’s portfolio.Fukoku Mutual Life Insurance Co reduced its stake in CI by selling 400 shares or 23.53% in the most recent quarter. The Hedge Fund company now holds 1,300 shares of CI which is valued at $166,907. CIGNA Corporation makes up approx 0.03% of Fukoku Mutual Life Insurance Co’s portfolio. Alpha Cubed Investments sold out all of its stake in CI during the most recent quarter. The investment firm sold 3,606 shares of CI which is valued $463,371.Evercore Wealth Management reduced its stake in CI by selling 303 shares or 41.97% in the most recent quarter. The Hedge Fund company now holds 419 shares of CI which is valued at $52,207.

CIGNA Corporation closed down -0.62 points or -0.48% at $127.64 with 7,01,460 shares getting traded on Thursday. Post opening the session at $128.58, the shares hit an intraday low of $127.15 and an intraday high of $128.99 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, CIGNA Corporation reported $1.98 EPS for the quarter, missing the analyst consensus estimate by $ -0.41 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $2.39. The company had revenue of $9960.00 million for the quarter, compared to analysts expectations of $9950.18 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS.

Many Wall Street Analysts have commented on CIGNA Corporation. Stifel Initiated CIGNA Corporation on Jun 28, 2016 to “Buy”, Price Target of the shares are set at $169.Company shares were Reiterated by RBC Capital Mkts on May 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 174 from a previous price target of $169 .

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 operates in three segments: Global Health Care Global Supplemental Benefits and Group Disability and Life. The Global Health Care segment aggregates the commercial and Government operating segments. The Global Supplemental Benefits segment offers supplemental health life and accident insurance products. The Group Disability and Life segment provides group long-term and short-term disability insurance group life insurance accident and specialty insurance and related services. Cigna offers commercial health and dental insurance Medicare and Medicaid products and health life and accident insurance coverages to individuals. It offers personal accident insurance coverage consisting of accidental death and dismemberment and travel accident insurance.

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