Suntrust Banks Inc. boosted its stake in CIGNA Co. (NYSE:CI) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 197,474 shares of the health services provider’s stock after buying an additional 8,225 shares during the quarter. Suntrust Banks Inc.’s holdings in CIGNA were worth $40,103,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CI. Saratoga Research & Investment Management purchased a new position in shares of CIGNA during the third quarter valued at approximately $112,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of CIGNA during the fourth quarter valued at approximately $122,000. Horan Capital Advisors LLC. purchased a new position in shares of CIGNA during the third quarter valued at approximately $123,000. Cerebellum GP LLC purchased a new position in shares of CIGNA during the fourth quarter valued at approximately $127,000. Finally, Grove Bank & Trust lifted its holdings in shares of CIGNA by 171.9% during the third quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after purchasing an additional 617 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.
In other news, EVP John M. Murabito sold 28,037 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total transaction of $5,766,650.16. Following the completion of the sale, the executive vice president now owns 60,290 shares of the company’s stock, valued at approximately $12,400,447.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 212 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $209.35, for a total transaction of $44,382.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,663 shares of company stock valued at $13,329,903. Insiders own 1.30% of the company’s stock.
CIGNA Co. (NYSE CI) traded down $2.37 during trading hours on Tuesday, reaching $191.44. 91,959 shares of the company’s stock were exchanged, compared to its average volume of 1,462,209. 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 Co. has a fifty-two week low of $143.66 and a fifty-two week high of $227.13. The company has a market cap of $47,283.25, a P/E ratio of 22.20, a PEG ratio of 1.16 and a beta of 0.45.
CIGNA (NYSE:CI) last posted its earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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 posted $1.87 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. equities analysts predict that CIGNA Co. will post 12.9 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. Oppenheimer boosted 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 boosted their price objective on shares of CIGNA to $255.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price objective for the company in a report on Friday, December 22nd. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Goldman Sachs Group assumed coverage on shares of CIGNA in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective for the company. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CIGNA presently has a consensus rating of “Buy” and an average target price of $210.12.
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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