State of Tennessee Treasury Department raised its stake in shares of CIGNA Co. (NYSE:CI) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,458 shares of the health services provider’s stock after buying an additional 13,464 shares during the period. State of Tennessee Treasury Department owned approximately 0.06% of CIGNA worth $31,166,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in CI. Commerzbank Aktiengesellschaft FI grew its stake in shares of CIGNA by 19.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,667 shares of the health services provider’s stock worth $339,000 after purchasing an additional 272 shares during the last quarter. Comerica Bank grew its stake in shares of CIGNA by 0.4% in the 3rd quarter. Comerica Bank now owns 62,611 shares of the health services provider’s stock worth $12,379,000 after purchasing an additional 274 shares during the last quarter. Investec Asset Management PTY Ltd grew its stake in shares of CIGNA by 3.4% in the 3rd quarter. Investec Asset Management PTY Ltd now owns 8,865 shares of the health services provider’s stock worth $1,645,000 after purchasing an additional 290 shares during the last quarter. Barton Investment Management grew its stake in shares of CIGNA by 9.6% in the 3rd quarter. Barton Investment Management now owns 3,425 shares of the health services provider’s stock worth $640,000 after purchasing an additional 300 shares during the last quarter. Finally, Bfsg LLC grew its stake in shares of CIGNA by 23.1% in the 4th quarter. Bfsg LLC now owns 1,642 shares of the health services provider’s stock worth $333,000 after purchasing an additional 308 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
CIGNA Co. (NYSE:CI) opened at $191.90 on Friday. CIGNA Co. has a fifty-two week low of $143.85 and a fifty-two week high of $227.13. The company has a market cap of $46,756.28, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.45. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.
CIGNA (NYSE:CI) last announced its earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. CIGNA had a net margin of 5.38% and a return on equity of 18.84%. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same period last year, the company posted $1.87 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts predict that CIGNA Co. will post 12.9 EPS for the current year.
Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of CIGNA from $195.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Citigroup lifted their price objective on shares of CIGNA from $198.00 to $231.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Oppenheimer lifted their price objective on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Credit Suisse Group assumed coverage on shares of CIGNA in a research note on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $210.12.
In related news, insider Christopher J. Hocevar sold 8,387 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $200.32, for a total transaction of $1,680,083.84. Following the completion of the sale, the insider now directly owns 12,363 shares in the company, valued at $2,476,556.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William D. Zollars sold 212 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total transaction of $43,604.16. Following the sale, the director now owns 13,500 shares of the company’s stock, valued at $2,776,680. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,663 shares of company stock valued at $13,329,903. 1.30% of the stock is currently owned by corporate insiders.
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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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