Flaharty Asset Management LLC bought a new stake in CIGNA Co. (NYSE:CI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,476 shares of the health services provider’s stock, valued at approximately $307,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ardsley Advisory Partners lifted its stake in shares of CIGNA by 71.4% in the 4th quarter. Ardsley Advisory Partners now owns 6,000 shares of the health services provider’s stock valued at $1,220,000 after purchasing an additional 2,500 shares during the period. HBK Investments L P lifted its stake in shares of CIGNA by 14.7% in the 4th quarter. HBK Investments L P now owns 156,000 shares of the health services provider’s stock valued at $31,682,000 after purchasing an additional 20,001 shares during the period. California State Teachers Retirement System lifted its stake in shares of CIGNA by 3.6% in the 4th quarter. California State Teachers Retirement System now owns 437,083 shares of the health services provider’s stock valued at $88,767,000 after purchasing an additional 15,034 shares during the period. Two Sigma Investments LP bought a new position in CIGNA during the 4th quarter valued at approximately $2,751,000. Finally, Two Sigma Advisers LP increased its position in CIGNA by 10.7% during the 4th quarter. Two Sigma Advisers LP now owns 471,524 shares of the health services provider’s stock valued at $95,762,000 after buying an additional 45,520 shares in the last quarter. Institutional investors own 88.87% of the company’s stock.
A number of research firms recently weighed in on CI. Sanford C. Bernstein began coverage on CIGNA in a research report on Tuesday. They set a “market perform” rating and a $194.00 price objective for the company. Morgan Stanley raised their price objective on CIGNA to $255.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. 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. Credit Suisse Group reduced their price objective on CIGNA from $232.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Barclays began coverage on CIGNA in a research report on Thursday, March 8th. They set an “overweight” rating and a $235.00 price objective for the company. Four analysts have rated the stock with a hold rating, sixteen have assigned 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 an average target price of $210.37.
In other CIGNA news, CEO David Cordani sold 36,769 shares of CIGNA 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 completion of the sale, the chief executive officer now owns 372,076 shares of the company’s stock, valued at approximately $71,319,527.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicole S. Jones sold 5,856 shares of CIGNA stock in a transaction on Monday, March 5th. The stock was sold at an average price of $190.68, for a total value of $1,116,622.08. Following the completion of the sale, the executive vice president now directly owns 36,658 shares of the company’s stock, valued at approximately $6,989,947.44. The disclosure for this sale can be found here. In the last three months, insiders sold 86,103 shares of company stock valued at $17,217,951. Corporate insiders own 1.30% of the company’s stock.
Shares of CIGNA Co. (NYSE CI) opened at $164.39 on Wednesday. The company has a market capitalization of $40,635.48, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.51. CIGNA Co. has a fifty-two week low of $143.85 and a fifty-two week high of $227.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.
CIGNA (NYSE:CI) last posted its earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, topping the Zacks’ 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 company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS. sell-side analysts expect that CIGNA Co. will post 12.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Monday, March 12th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, March 9th. CIGNA’s payout ratio is 0.46%.
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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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