CQS Cayman LP purchased a new position in Cigna (NYSE:CI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,500 shares of the health services provider’s stock, valued at approximately $587,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Cigna by 1.2% in the 1st quarter. BlackRock Inc. now owns 17,352,641 shares of the health services provider’s stock worth $2,910,733,000 after acquiring an additional 197,461 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cigna by 42.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,447,120 shares of the health services provider’s stock worth $913,701,000 after acquiring an additional 1,625,772 shares in the last quarter. Sanders Capital LLC raised its position in shares of Cigna by 1.8% in the 4th quarter. Sanders Capital LLC now owns 3,015,393 shares of the health services provider’s stock worth $667,646,000 after acquiring an additional 52,400 shares in the last quarter. Boston Partners raised its position in shares of Cigna by 6.9% in the 1st quarter. Boston Partners now owns 2,886,546 shares of the health services provider’s stock worth $484,188,000 after acquiring an additional 186,018 shares in the last quarter. Finally, Veritas Asset Management LLP bought a new position in shares of Cigna in the 1st quarter worth $409,675,000. 87.75% of the stock is owned by hedge funds and other institutional investors.
Cigna opened at $175.90 on Friday, MarketBeat.com reports. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.37. The stock has a market cap of $43.08 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.09 and a beta of 0.59. Cigna has a fifty-two week low of $159.91 and a fifty-two week high of $227.13.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, May 3rd. The health services provider reported $4.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.39 by $0.72. The business had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $10.97 billion. Cigna had a return on equity of 20.90% and a net margin of 5.99%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 EPS. research analysts forecast that Cigna will post 13.23 earnings per share for the current year.
Several research firms have recently commented on CI. Credit Suisse Group boosted their price target on Cigna from $215.00 to $218.00 and gave the stock an “outperform” rating in a research report on Friday, May 4th. Zacks Investment Research raised Cigna from a “sell” rating to a “hold” rating in a research report on Monday, April 16th. Sanford C. Bernstein assumed coverage on Cigna in a research report on Tuesday, March 13th. They issued a “market perform” rating and a $194.00 price target for the company. Barclays assumed coverage on Cigna in a research note on Thursday, March 8th. They set an “overweight” rating and a $235.00 target price on the stock. Finally, Oppenheimer boosted their target price on Cigna to $237.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $212.50.
In other Cigna news, EVP Nicole S. Jones sold 5,856 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $190.68, for a total transaction of $1,116,622.08. Following the sale, the executive vice president now owns 36,658 shares in the company, valued at approximately $6,989,947.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 36,769 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $191.68, for a total value of $7,047,881.92. Following the sale, the chief executive officer now owns 372,076 shares in the company, valued at approximately $71,319,527.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,384 shares of company stock worth $8,693,791. Company insiders own 1.10% of the company’s stock.
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.
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