D.A. Davidson & CO. lifted its stake in Cigna (NYSE:CI) by 29.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,068 shares of the health services provider’s stock after buying an additional 465 shares during the period. D.A. Davidson & CO.’s holdings in Cigna were worth $347,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its position in Cigna by 42.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,447,120 shares of the health services provider’s stock worth $913,701,000 after acquiring an additional 1,625,772 shares during the last quarter. Victory Capital Management Inc. grew its position in Cigna by 213.6% during the 1st quarter. Victory Capital Management Inc. now owns 57,940 shares of the health services provider’s stock worth $9,719,000 after acquiring an additional 39,464 shares during the last quarter. Mckinley Capital Management LLC Delaware grew its position in Cigna by 5.7% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 55,590 shares of the health services provider’s stock worth $9,325,000 after acquiring an additional 2,990 shares during the last quarter. Boston Partners grew its position in Cigna by 6.9% during the 1st quarter. Boston Partners now owns 2,886,546 shares of the health services provider’s stock worth $484,188,000 after acquiring an additional 186,018 shares during the last quarter. Finally, Bank of Hawaii bought a new stake in Cigna during the 1st quarter worth approximately $450,000. Institutional investors and hedge funds own 89.48% of the company’s stock.
In other news, CEO David Cordani sold 36,769 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $191.68, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher J. Hocevar sold 2,759 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $191.84, for a total value of $529,286.56. Following the completion of 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. Insiders sold a total of 45,384 shares of company stock worth $8,693,791 over the last 90 days. 1.10% of the stock is owned by corporate insiders.
Shares of Cigna opened at $178.07 on Friday, according to MarketBeat Ratings. The firm has a market capitalization of $43.32 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.10 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.35 and a current ratio of 0.35. Cigna has a 52 week low of $158.79 and a 52 week high of $227.13.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, May 3rd. The health services provider reported $4.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.39 by $0.72. Cigna had a return on equity of 20.90% and a net margin of 5.99%. The business had revenue of $11.38 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same period last year, the company earned $2.77 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. analysts forecast that Cigna will post 13.23 EPS for the current year.
CI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Cigna from a “sell” rating to a “hold” rating in a research report on Monday, April 16th. Sanford C. Bernstein started coverage on Cigna in a research report on Tuesday, March 13th. They issued a “market perform” rating and a $194.00 price objective on the stock. Credit Suisse Group increased their price objective on Cigna from $215.00 to $218.00 and gave the company an “outperform” rating in a research report on Friday, May 4th. Oppenheimer increased their price objective on Cigna to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Barclays started coverage on Cigna in a research report on Thursday, March 8th. They issued an “overweight” rating and a $235.00 price objective on the stock. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $212.50.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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