Ardsley Advisory Partners raised its stake in shares of CIGNA Co. (NYSE:CI) by 71.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,000 shares of the health services provider’s stock after buying an additional 2,500 shares during the period. Ardsley Advisory Partners’ holdings in CIGNA were worth $1,220,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in CIGNA in the fourth quarter valued at approximately $112,000. Stuart Chaussee & Associates Inc. acquired a new position in CIGNA in the fourth quarter valued at approximately $122,000. Cerebellum GP LLC acquired a new position in CIGNA in the fourth quarter valued at approximately $127,000. Horan Capital Advisors LLC. acquired a new position in CIGNA in the third quarter valued at approximately $123,000. Finally, Aevitas Wealth Management Inc. acquired a new position in CIGNA in the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 88.87% of the company’s stock.
Several brokerages have recently issued reports on CI. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price objective for the company in a research report on Friday, December 22nd. Morgan Stanley boosted their price objective on CIGNA to $255.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Oppenheimer boosted their price objective on CIGNA to $237.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Goldman Sachs Group began coverage on CIGNA in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 price objective for the company. Finally, ValuEngine upgraded CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $211.28.
Shares of CIGNA Co. (NYSE:CI) opened at $167.31 on Tuesday. CIGNA Co. has a twelve month low of $143.85 and a twelve month high of $227.13. The company has a market capitalization of $41,250.00, a P/E ratio of 17.32, a P/E/G ratio of 1.04 and a beta of 0.51. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.
CIGNA (NYSE:CI) last announced its earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.07. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The firm had revenue of $10.53 billion for the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter in the previous year, the company earned $1.87 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. analysts expect that CIGNA Co. will post 12.9 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, March 9th. This represents a $0.16 annualized dividend and a yield of 0.10%. CIGNA’s payout ratio is 0.41%.
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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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