Aevitas Wealth Management Inc. purchased a new stake in CIGNA Co. (NYSE:CI) during the 4th quarter, HoldingsChannel reports. The fund purchased 800 shares of the health services provider’s stock, valued at approximately $162,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Amalgamated Bank raised its holdings in CIGNA by 5.7% in the 4th quarter. Amalgamated Bank now owns 31,488 shares of the health services provider’s stock valued at $6,395,000 after acquiring an additional 1,706 shares during the period. Assetmark Inc. raised its holdings in CIGNA by 6.6% in the 4th quarter. Assetmark Inc. now owns 28,280 shares of the health services provider’s stock valued at $5,743,000 after acquiring an additional 1,742 shares during the period. Mackenzie Financial Corp raised its holdings in CIGNA by 3,488.7% in the 4th quarter. Mackenzie Financial Corp now owns 55,481 shares of the health services provider’s stock valued at $11,268,000 after acquiring an additional 53,935 shares during the period. Fort L.P. bought a new position in CIGNA in the 4th quarter valued at about $495,000. Finally, Obermeyer Wood Investment Counsel Lllp bought a new position in CIGNA in the 4th quarter valued at about $219,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of CIGNA to $255.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 target price (up from $185.00) on shares of CIGNA in a report on Friday, November 3rd. Oppenheimer raised their target price on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Goldman Sachs Group began coverage on shares of CIGNA in a report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 target price on the stock. Finally, Credit Suisse Group began coverage on shares of CIGNA in a report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $210.12.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $10.53 billion for the quarter, compared to analysts’ expectations of $10.28 billion. CIGNA had a net margin of 5.38% and a return on equity of 18.84%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $1.87 earnings per share. equities analysts anticipate that CIGNA Co. will post 12.9 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.08%. CIGNA’s dividend payout ratio (DPR) is 0.46%.
In related news, Chairman Isaiah Harris, Jr. sold 212 shares of CIGNA stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $209.35, for a total value of $44,382.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John M. Murabito sold 6,099 shares of CIGNA stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $220.10, for a total transaction of $1,342,389.90. Following the completion of the transaction, the executive vice president now directly owns 68,026 shares in the company, valued at $14,972,522.60. The disclosure for this sale can be found here. Insiders sold 40,931 shares of company stock worth $8,568,543 over the last three months. 1.30% of the stock is currently owned by insiders.
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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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