Sentinel Trust Co. LBA decreased its position in shares of CIGNA Co. (NYSE:CI) by 36.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Gravity Companies Inc. purchased a new stake in shares of CIGNA during the fourth quarter worth $112,000. Stuart Chaussee & Associates Inc. bought a new position in CIGNA in the fourth quarter valued at $122,000. Cerebellum GP LLC bought a new position in CIGNA in the fourth quarter valued at $127,000. Horan Capital Advisors LLC. bought a new position in shares of CIGNA during the third quarter valued at about $123,000. Finally, Aevitas Wealth Management Inc. bought a new position in shares of CIGNA during the fourth quarter valued at about $162,000. 88.83% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO David Cordani sold 36,769 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $191.68, for a total transaction of $7,047,881.92. Following the transaction, the chief executive officer now directly owns 372,076 shares in the company, valued at approximately $71,319,527.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher J. Hocevar sold 2,759 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $191.84, for a total transaction of $529,286.56. Following the sale, the insider now directly owns 12,784 shares of the company’s stock, valued at approximately $2,452,482.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,103 shares of company stock worth $17,217,951. Corporate insiders own 1.30% of the company’s stock.
Shares of CIGNA Co. (CI) traded up $0.53 during mid-day trading on Friday, hitting $165.87. 931,623 shares of the company were exchanged, compared to its average volume of 2,353,095. CIGNA Co. has a 52-week low of $143.85 and a 52-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. The firm has a market capitalization of $40,572.34, a PE ratio of 18.94, a P/E/G ratio of 1.00 and a beta of 0.51.
CIGNA (NYSE:CI) last issued its quarterly earnings data on Thursday, February 1st. The health services provider reported $1.94 earnings per share 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 business had revenue of $10.53 billion during the quarter, compared to the consensus estimate of $10.28 billion. During the same quarter in the previous year, the firm earned $1.87 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. equities analysts forecast that CIGNA Co. will post 12.9 earnings per share for the current fiscal year.
The business 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 dividend of $0.04 per share. The ex-dividend date 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 presently 0.46%.
Several brokerages have commented on CI. Oppenheimer raised their price objective on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Morgan Stanley lifted their price target on shares of CIGNA to $255.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 target price on the stock in a research note on Friday, December 22nd. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Goldman Sachs began coverage on shares of CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price target on the stock. Five 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 stock. CIGNA currently has an average rating of “Buy” and an average target price of $210.37.
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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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