L & S Advisors Inc acquired a new position in Cigna Corp (NYSE:CI) in the fourth quarter, HoldingsChannel reports. The fund acquired 7,886 shares of the health services provider’s stock, valued at approximately $1,498,000.
Other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of Cigna by 42,687.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after purchasing an additional 31,678,514 shares during the last quarter. BlackRock Inc. raised its position in shares of Cigna by 59.4% during the 4th quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after purchasing an additional 10,021,719 shares during the last quarter. Vanguard Group Inc raised its position in shares of Cigna by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock worth $3,706,967,000 after purchasing an additional 260,042 shares during the last quarter. FMR LLC raised its position in shares of Cigna by 18.6% during the 3rd quarter. FMR LLC now owns 8,970,440 shares of the health services provider’s stock worth $1,868,093,000 after purchasing an additional 1,409,335 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Cigna by 26.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,891,910 shares of the health services provider’s stock worth $1,308,914,000 after purchasing an additional 1,445,822 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.
In other news, Director John Partridge sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $184.43, for a total value of $184,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Zollars sold 272 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total transaction of $45,812.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,420 shares of company stock valued at $1,886,122. 1.10% of the stock is owned by corporate insiders.
Cigna (NYSE:CI) last announced its quarterly earnings data on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. During the same period in the prior year, the company posted $1.94 EPS. The firm’s revenue was up 29.3% on a year-over-year basis. As a group, equities analysts forecast that Cigna Corp will post 16.41 earnings per share for the current year.
The firm also recently disclosed a special dividend, which will be paid on Wednesday, April 10th. Investors of record on Monday, March 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Cigna from a “hold” rating to a “buy” rating and set a $208.00 price target for the company in a research report on Friday, January 4th. Morgan Stanley reduced their price target on shares of Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a research report on Tuesday, February 5th. Credit Suisse Group restated a “buy” rating and set a $250.00 price target on shares of Cigna in a research report on Monday, January 7th. ValuEngine downgraded shares of Cigna from a “hold” rating to a “sell” rating in a research report on Friday, December 28th. Finally, Stephens assumed coverage on shares of Cigna in a research report on Monday, January 14th. They set an “overweight” rating and a $251.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Cigna presently has an average rating of “Buy” and a consensus price target of $231.28.
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Cigna Company Profile
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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