Raymond James & Associates reduced its position in CIGNA Co. (NYSE:CI) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,193 shares of the health services provider’s stock after selling 5,367 shares during the quarter. Raymond James & Associates owned about 0.05% of CIGNA worth $27,050,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Ascension Asset Management LLC bought a new stake in CIGNA during the fourth quarter valued at approximately $473,000. Iguana Healthcare Management LLC lifted its position in CIGNA by 51.4% during the third 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 last quarter. Schwab Charles Investment Management Inc. lifted its position in CIGNA by 3.4% during the fourth 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 last quarter. Eagle Asset Management Inc. lifted its position in CIGNA by 13.9% during the fourth 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 during the last quarter. Finally, Sectoral Asset Management Inc lifted its position 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 valued at $8,527,000 after purchasing an additional 30,105 shares during the last quarter. Institutional investors own 88.87% of the company’s stock.
CIGNA Co. (NYSE CI) opened at $168.67 on Friday. The company has a market cap of $40,535.90, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. CIGNA Co. has a one year low of $143.85 and a one year high of $227.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS 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 firm had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $10.28 billion. During the same period last year, the firm posted $1.87 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. sell-side analysts predict that CIGNA Co. will post 12.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, March 9th. CIGNA’s payout ratio is 0.46%.
CI has been the subject of several research analyst reports. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 target price for the company in a research report on Friday, December 22nd. Sanford C. Bernstein initiated coverage on shares of CIGNA in a research report on Tuesday. They set a “market perform” rating and a $194.00 target price for the company. Goldman Sachs initiated coverage on shares of CIGNA in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 target price for the company. Finally, Oppenheimer lifted their target price on shares of CIGNA to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $210.37.
In related news, EVP Nicole S. Jones sold 5,856 shares of CIGNA stock in a transaction on Monday, March 5th. The shares were sold at an average price of $190.68, for a total value of $1,116,622.08. Following the transaction, the executive vice president now directly owns 36,658 shares of the company’s stock, valued at $6,989,947.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William D. Zollars sold 212 shares of CIGNA stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total transaction of $43,604.16. Following the completion of the transaction, the director now directly owns 13,500 shares in the company, valued at $2,776,680. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,103 shares of company stock worth $17,217,951. 1.30% of the stock is owned by insiders.
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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