Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CIGNA Co. (NYSE:CI) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,589 shares of the health services provider’s stock after purchasing an additional 14,396 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of CIGNA worth $26,115,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Saratoga Research & Investment Management acquired a new position in shares of CIGNA during the 3rd quarter valued at $112,000. Cerebellum GP LLC bought a new stake in shares of CIGNA in the 4th quarter worth about $127,000. Horan Capital Advisors LLC. bought a new stake in shares of CIGNA in the 3rd quarter worth about $123,000. Grove Bank & Trust increased its position in shares of CIGNA by 171.9% in the 3rd quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock worth $182,000 after purchasing an additional 617 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of CIGNA in the 3rd quarter worth about $185,000. 88.60% of the stock is owned by hedge funds and other institutional investors.
In other CIGNA news, EVP Alan Muney sold 15,345 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $200.80, for a total transaction of $3,081,276.00. Following the transaction, the executive vice president now directly owns 28,457 shares in the company, valued at approximately $5,714,165.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher J. Hocevar sold 8,387 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $200.32, for a total value of $1,680,083.84. Following the completion of the transaction, the insider now owns 12,363 shares in the company, valued at $2,476,556.16. 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 (NYSE:CI) last announced its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. CIGNA’s quarterly revenue was up 5.9% on a year-over-year basis. sell-side analysts expect that CIGNA Co. will post 12.9 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of CIGNA to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley boosted their price target on shares of CIGNA to $255.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Goldman Sachs Group started coverage on shares of CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective on the stock. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price objective on the stock in a research note on Friday, December 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $210.12.
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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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