Associated Banc Corp grew its holdings in shares of Cigna Corp (NYSE:CI) by 38.4% in the 1st quarter, HoldingsChannel reports. The fund owned 73,750 shares of the health services provider’s stock after buying an additional 20,466 shares during the period. Associated Banc Corp’s holdings in Cigna were worth $11,860,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Clarfeld Financial Advisors LLC acquired a new position in shares of Cigna in the fourth quarter valued at approximately $25,000. 1 North Wealth Services LLC acquired a new position in shares of Cigna in the fourth quarter valued at approximately $25,000. Private Ocean LLC acquired a new position in shares of Cigna in the fourth quarter valued at approximately $26,000. Delta Asset Management LLC TN acquired a new position in shares of Cigna in the fourth quarter valued at approximately $28,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Cigna in the fourth quarter valued at approximately $30,000. 88.61% of the stock is owned by hedge funds and other institutional investors.
CI has been the topic of several analyst reports. Goldman Sachs Group reiterated a “buy” rating on shares of Cigna in a report on Saturday, February 2nd. Morgan Stanley reduced their target price on Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a report on Tuesday, February 5th. Zacks Investment Research cut Cigna from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 20th. ValuEngine cut Cigna from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Finally, Barclays reduced their target price on Cigna from $220.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the stock. Cigna has an average rating of “Buy” and an average target price of $225.85.
In other Cigna news, Director William D. Zollars sold 272 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total transaction of $45,812.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian C. Evanko purchased 2,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were acquired at an average price of $163.40 per share, for a total transaction of $326,800.00. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by corporate insiders.
Shares of CI stock opened at $153.79 on Friday. Cigna Corp has a one year low of $141.95 and a one year high of $226.60. The company has a market capitalization of $58.93 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.78 and a beta of 0.69. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.16. The firm had revenue of $33.43 billion for the quarter, compared to analysts’ expectations of $32.79 billion. Cigna had a return on equity of 14.23% and a net margin of 4.11%. The company’s revenue for the quarter was up 192.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.11 EPS. As a group, sell-side analysts anticipate that Cigna Corp will post 16.54 EPS for the current fiscal year.
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Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
Further Reading: Momentum Investing
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