OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in CIGNA Co. (NYSE:CI) by 49.2% during the fourth quarter, Holdings Channel reports. The fund owned 14,244 shares of the health services provider’s stock after acquiring an additional 4,700 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in CIGNA were worth $2,893,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Ascension Asset Management LLC bought a new stake in shares of CIGNA during the 4th quarter valued at about $473,000. Iguana Healthcare Management LLC boosted 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 valued at $4,954,000 after purchasing an additional 9,000 shares in the last quarter. Schwab Charles Investment Management Inc. boosted 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 valued at $183,623,000 after purchasing an additional 29,553 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of CIGNA by 13.9% during the 4th quarter. Eagle Asset Management Inc. now owns 216,769 shares of the health services provider’s stock valued at $43,850,000 after purchasing an additional 26,440 shares in the last quarter. Finally, Sectoral Asset Management Inc boosted its stake in CIGNA by 194.1% during the third quarter. Sectoral Asset Management Inc now owns 45,615 shares of the health services provider’s stock worth $8,527,000 after acquiring an additional 30,105 shares in the last quarter. 88.83% of the stock is currently owned by institutional investors and hedge funds.
CIGNA stock opened at $167.05 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. The stock has a market cap of $40,074.44, a PE ratio of 19.14, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. CIGNA Co. has a twelve month low of $143.85 and a twelve month high of $227.13.
CIGNA (NYSE:CI) last issued 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. The business had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. CIGNA had a net margin of 5.38% and a return on equity of 18.84%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.87 earnings per share. sell-side analysts predict that CIGNA Co. will post 12.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Monday, March 12th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, March 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.10%. CIGNA’s payout ratio is 0.46%.
In other news, insider Christopher J. Hocevar sold 2,759 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.84, for a total transaction of $529,286.56. Following the completion of the transaction, the insider now directly owns 12,784 shares of the company’s stock, valued at $2,452,482.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Zollars sold 212 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were 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 of the company’s stock, valued at $2,776,680. The disclosure for this sale can be found here. Insiders have sold 86,103 shares of company stock valued at $17,217,951 over the last three months. 1.30% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of CIGNA from a “buy” rating to a “hold” rating in a research note on Tuesday. Sanford C. Bernstein assumed coverage on shares of CIGNA in a research note on Tuesday, March 13th. They set a “market perform” rating and a $194.00 price objective on the stock. Credit Suisse Group dropped their price objective on shares of CIGNA from $232.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, March 12th. Barclays assumed coverage on shares of CIGNA in a research note on Thursday, March 8th. They set an “overweight” rating and a $235.00 price objective on the stock. Finally, ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. CIGNA has a consensus rating of “Buy” and a consensus price target of $210.37.
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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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