First Trust Advisors LP increased its position in shares of CIGNA Co. (NYSE:CI) by 51.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,818 shares of the health services provider’s stock after acquiring an additional 65,343 shares during the period. First Trust Advisors LP’s holdings in CIGNA were worth $39,159,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Saratoga Research & Investment Management acquired a new position in shares of CIGNA in the 3rd quarter valued at $112,000. Iguana Healthcare Management LLC boosted its position in shares of CIGNA by 51.4% in 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 during the period. Ascension Asset Management LLC acquired a new position in shares of CIGNA in the 4th quarter valued at $473,000. Schwab Charles Investment Management Inc. boosted its position in shares of CIGNA by 3.4% in 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 during the period. Finally, Sectoral Asset Management Inc boosted its position in shares of CIGNA by 194.1% in the 3rd quarter. Sectoral Asset Management Inc now owns 45,615 shares of the health services provider’s stock valued at $8,527,000 after purchasing an additional 30,105 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on CI. Morgan Stanley increased their price target on CIGNA from $195.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Oppenheimer increased their price target on CIGNA to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price target (up previously from $185.00) on shares of CIGNA in a research report on Friday, November 3rd. Goldman Sachs Group began coverage on CIGNA in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 price objective for the company. Finally, Credit Suisse Group began coverage on CIGNA in a research report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 price objective for the company. Three investment 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 an average rating of “Buy” and an average price target of $210.12.
Shares of CIGNA Co. (NYSE:CI) opened at $193.81 on Monday. CIGNA Co. has a 1 year low of $141.93 and a 1 year high of $227.13. The company has a market capitalization of $47,283.25, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.16 and a beta of 0.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.37.
CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.07. The business had revenue of $10.53 billion during the quarter, compared to analyst estimates of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 EPS. equities analysts predict that CIGNA Co. will post 12.9 earnings per share for the current fiscal year.
In other news, insider Christopher J. Hocevar sold 8,387 shares of CIGNA stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $200.32, for a total transaction of $1,680,083.84. Following the completion of the sale, the insider now directly owns 12,363 shares in the company, valued at approximately $2,476,556.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alan Muney sold 15,345 shares of CIGNA stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $200.80, for a total value of $3,081,276.00. Following the sale, the executive vice president now owns 28,457 shares of the company’s stock, valued at $5,714,165.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,663 shares of company stock valued at $13,329,903. 1.30% of the stock is owned by corporate insiders.
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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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