Sentinel Trust Co. LBA lowered its holdings in CIGNA Co. (NYSE:CI) by 36.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,090 shares of the health services provider’s stock after selling 9,803 shares during the quarter. Sentinel Trust Co. LBA’s holdings in CIGNA were worth $3,471,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in CIGNA by 1.2% in the 4th quarter. BlackRock Inc. now owns 17,155,180 shares of the health services provider’s stock worth $3,484,045,000 after buying an additional 206,718 shares during the period. Ameriprise Financial Inc. lifted its holdings in CIGNA by 4.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,776,414 shares of the health services provider’s stock worth $705,889,000 after buying an additional 171,712 shares during the period. Sanders Capital LLC lifted its holdings in CIGNA by 1.8% in the 4th quarter. Sanders Capital LLC now owns 3,015,393 shares of the health services provider’s stock worth $667,646,000 after buying an additional 52,400 shares during the period. Geode Capital Management LLC lifted its holdings in CIGNA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,419,889 shares of the health services provider’s stock worth $490,343,000 after buying an additional 40,144 shares during the period. Finally, Swedbank lifted its holdings in CIGNA by 9.0% in the 4th quarter. Swedbank now owns 1,936,346 shares of the health services provider’s stock worth $393,253,000 after buying an additional 159,769 shares during the period. Institutional investors and hedge funds own 88.87% of the company’s stock.
Several brokerages have recently issued reports on CI. Sanford C. Bernstein began coverage on CIGNA in a research report on Tuesday. They issued a “market perform” rating and a $194.00 target price for the company. Barclays began coverage on CIGNA in a research report on Thursday, March 8th. They issued an “overweight” rating and a $235.00 target price for the company. Credit Suisse Group decreased their target price on CIGNA from $232.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Goldman Sachs Group began coverage on CIGNA in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 target price for the company. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $210.37.
Shares of CIGNA Co. (NYSE CI) opened at $166.90 on Friday. The company has a market capitalization of $40,531.05, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. CIGNA Co. has a fifty-two week low of $143.85 and a fifty-two week high of $227.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.07. The firm had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business posted $1.87 EPS. sell-side analysts expect that CIGNA Co. will post 12.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Monday, March 12th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. CIGNA’s dividend payout ratio (DPR) is currently 0.46%.
In related news, Director William D. Zollars sold 212 shares of CIGNA stock in a transaction 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 transaction, the director now directly owns 13,500 shares in the company, valued at $2,776,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher J. Hocevar sold 2,759 shares of CIGNA stock in a transaction on Monday, March 5th. The shares were sold at an average price of $191.84, for a total value of $529,286.56. Following the transaction, the insider now owns 12,784 shares in the company, valued at $2,452,482.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,103 shares of company stock worth $17,217,951. Company insiders own 1.30% of the company’s stock.
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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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