DnB Asset Management AS decreased its position in CIGNA Co. (NYSE:CI) by 27.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,759 shares of the health services provider’s stock after selling 28,200 shares during the period. DnB Asset Management AS’s holdings in CIGNA were worth $15,183,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of CI. Saratoga Research & Investment Management purchased a new stake in shares of CIGNA during the 3rd quarter valued at $112,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of CIGNA during the 2nd quarter valued at $106,000. Horan Capital Advisors LLC. purchased a new stake in shares of CIGNA during the 3rd quarter valued at $123,000. Grove Bank & Trust lifted its holdings in shares of CIGNA by 171.9% during the 3rd quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after purchasing an additional 617 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of CIGNA during the 3rd quarter valued at $185,000. Institutional investors own 88.07% of the company’s stock.
Shares of CIGNA Co. (NYSE CI) traded down $0.55 on Friday, reaching $204.46. The company’s stock had a trading volume of 1,920,042 shares, compared to its average volume of 1,426,115. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. CIGNA Co. has a 12 month low of $141.93 and a 12 month high of $227.13. The firm has a market cap of $51,220.00, a P/E ratio of 22.39, a P/E/G ratio of 1.37 and a beta of 0.44.
CIGNA (NYSE:CI) last posted its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.07. CIGNA had a net margin of 5.74% and a return on equity of 18.85%. The business had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.28 billion. During the same period in the prior year, the company posted $1.87 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. analysts predict that CIGNA Co. will post 10.38 earnings per share for the current fiscal year.
In related news, EVP John M. Murabito sold 6,099 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $220.10, for a total value of $1,342,389.90. Following the transaction, the executive vice president now directly owns 68,026 shares of the company’s stock, valued at approximately $14,972,522.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Muney sold 15,345 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $200.80, for a total transaction of $3,081,276.00. Following the completion of the transaction, the executive vice president now directly owns 28,457 shares in the company, valued at $5,714,165.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,655 shares of company stock worth $15,503,365. Corporate insiders own 1.30% of the company’s stock.
CI has been the subject of several analyst reports. Jefferies Group increased their price objective on CIGNA from $221.00 to $231.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research lowered CIGNA from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley upped their target price on CIGNA to $255.00 and gave the company an “overweight” rating in a research report on Friday. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, BMO Capital Markets started coverage on CIGNA in a research report on Monday, October 16th. They issued a “market perform” rating and a $210.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $210.12.
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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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