CKW Financial Group held its position in CIGNA Co. (NYSE:CI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700 shares of the health services provider’s stock at the end of the first quarter. CKW Financial Group’s holdings in CIGNA were worth $103,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CI. Rikoon Group LLC purchased a new position in CIGNA during the third quarter worth $338,000. Pzena Investment Management LLC increased its stake in CIGNA by 17.5% in the third quarter. Pzena Investment Management LLC now owns 906,125 shares of the health services provider’s stock valued at $118,086,000 after buying an additional 134,720 shares during the last quarter. Retirement Systems of Alabama increased its stake in CIGNA by 76.8% in the third quarter. Retirement Systems of Alabama now owns 231,166 shares of the health services provider’s stock valued at $30,126,000 after buying an additional 100,393 shares during the last quarter. Decatur Capital Management Inc. bought a new stake in CIGNA during the third quarter valued at approximately $3,415,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in CIGNA by 3.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 71,869 shares of the health services provider’s stock valued at $9,366,000 after buying an additional 2,674 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.
CIGNA Co. (NYSE:CI) traded up 0.41% during mid-day trading on Friday, hitting $160.76. The stock had a trading volume of 565,044 shares. The stock has a market capitalization of $41.16 billion, a P/E ratio of 21.46 and a beta of 0.53. The company’s 50 day moving average is $155.52 and its 200-day moving average is $145.25. CIGNA Co. has a 52 week low of $115.03 and a 52 week high of $164.88.
CIGNA (NYSE:CI) last issued its earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.33. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $10.11 billion. CIGNA had a return on equity of 15.77% and a net margin of 4.71%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. On average, analysts expect that CIGNA Co. will post $9.63 EPS for the current fiscal year.
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CI has been the subject of several recent analyst reports. Zacks Investment Research downgraded CIGNA from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Bank of America Corp initiated coverage on CIGNA in a report on Monday, March 13th. They issued a “buy” rating and a $175.00 price objective for the company. They noted that the move was a valuation call. Deutsche Bank AG initiated coverage on CIGNA in a report on Wednesday, April 5th. They issued a “buy” rating and a $172.00 price objective for the company. Citigroup Inc increased their price objective on CIGNA from $139.00 to $163.00 and gave the company a “buy” rating in a report on Monday, January 23rd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $178.00 price objective (up previously from $172.00) on shares of CIGNA in a report on Sunday, April 23rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. CIGNA has a consensus rating of “Buy” and a consensus price target of $167.57.
In related news, CFO Thomas A. Mccarthy sold 4,464 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $146.54, for a total transaction of $654,154.56. Following the sale, the chief financial officer now directly owns 80,531 shares in the company, valued at approximately $11,801,012.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 43,637 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $147.78, for a total value of $6,448,675.86. Following the sale, the chief executive officer now owns 306,194 shares in the company, valued at $45,249,349.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,223 shares of company stock worth $9,055,001. 1.20% of the stock is currently owned by corporate insiders.
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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