Chevy Chase Trust Holdings Inc. lessened its holdings in CIGNA Co. (NYSE:CI) by 2.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 214,882 shares of the health services provider’s stock after selling 6,064 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of CIGNA worth $43,640,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Saratoga Research & Investment Management purchased a new stake in shares of CIGNA during the 3rd quarter worth $112,000. Iguana Healthcare Management LLC lifted its stake in shares of CIGNA by 51.4% during the 3rd quarter. Iguana Healthcare Management LLC now owns 26,500 shares of the health services provider’s stock worth $4,954,000 after purchasing an additional 9,000 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of CIGNA by 3.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 904,143 shares of the health services provider’s stock worth $183,623,000 after purchasing an additional 29,553 shares during the last quarter. Sectoral Asset Management Inc lifted its stake in shares of CIGNA by 194.1% during the 3rd quarter. Sectoral Asset Management Inc now owns 45,615 shares of the health services provider’s stock worth $8,527,000 after purchasing an additional 30,105 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of CIGNA by 54.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,058 shares of the health services provider’s stock worth $4,124,000 after purchasing an additional 7,775 shares during the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.
In other CIGNA news, EVP John M. Murabito sold 6,099 shares of CIGNA stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $220.10, for a total transaction of $1,342,389.90. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna F. Zarcone sold 5,971 shares of CIGNA stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $215.43, for a total value of $1,286,332.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,663 shares of company stock valued at $13,329,903. 1.30% of the stock is currently owned by company insiders.
CIGNA Co. (NYSE CI) traded up $0.11 during mid-day trading on Wednesday, reaching $195.55. The company’s stock had a trading volume of 645,410 shares, compared to its average volume of 1,550,000. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.37. The firm has a market capitalization of $48,210.00, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44. CIGNA Co. has a one year low of $141.93 and a one year high of $227.13.
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 return on equity of 18.84% and a net margin of 5.38%. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter last year, the firm earned $1.87 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. analysts predict that CIGNA Co. will post 12.9 EPS for the current fiscal year.
Several research analysts recently issued reports on CI shares. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $231.00 target price on the stock in a research report on Friday, December 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective (up from $185.00) on shares of CIGNA in a report on Friday, November 3rd. 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. Goldman Sachs Group initiated coverage on CIGNA in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective on the stock. Finally, Credit Suisse Group initiated coverage on CIGNA in a report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 target price on the stock. Three 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 company presently has a consensus rating of “Buy” and an average price target of $210.12.
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CIGNA 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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