Bronfman E.L. Rothschild L.P. trimmed its holdings in shares of CIGNA Co. (NYSE:CI) by 23.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,794 shares of the health services provider’s stock after selling 539 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in CIGNA were worth $374,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CI. Flagship Harbor Advisors LLC purchased a new position in CIGNA during the 2nd quarter worth $102,000. Ancora Advisors LLC purchased a new position in CIGNA during the 3rd quarter worth $106,000. Sun Life Financial INC grew its stake in CIGNA by 254.3% during the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after buying an additional 473 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in CIGNA during the 3rd quarter worth $116,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in CIGNA by 3,122.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock worth $120,000 after buying an additional 687 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.
Several research analysts recently weighed in on CI shares. Zacks Investment Research downgraded CIGNA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. SunTrust Banks boosted their target price on CIGNA and gave the stock a “buy” rating in a research note on Thursday, September 27th. ValuEngine upgraded CIGNA from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Barclays boosted their target price on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, Leerink Swann boosted their target price on CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. CIGNA presently has a consensus rating of “Buy” and a consensus target price of $236.29.
CIGNA stock opened at $214.29 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market cap of $53.05 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.23 and a beta of 0.54. CIGNA Co. has a fifty-two week low of $163.02 and a fifty-two week high of $227.13.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.39. The business had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $11.19 billion. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.83 EPS. On average, research analysts forecast that CIGNA Co. will post 14.35 earnings per share for the current year.
In other news, Director William D. Zollars sold 238 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael W. Triplett sold 2,825 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $214.25, for a total value of $605,256.25. Following the completion of the transaction, the insider now directly owns 23,871 shares of the company’s stock, valued at approximately $5,114,361.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,252 shares of company stock worth $5,164,402. Company insiders own 1.10% of the company’s stock.
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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.
Further Reading: Closed-End Mutual Funds (CEFs)
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