TIAA CREF Investment Management LLC lessened its position in CIGNA Co. (NYSE:CI) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,544,712 shares of the health services provider’s stock after selling 256,595 shares during the period. TIAA CREF Investment Management LLC’s holdings in CIGNA were worth $719,896,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CI. Commerzbank Aktiengesellschaft FI boosted its position in shares of CIGNA by 19.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,667 shares of the health services provider’s stock valued at $339,000 after purchasing an additional 272 shares in the last quarter. Comerica Bank boosted its holdings in CIGNA by 0.4% in the third quarter. Comerica Bank now owns 62,611 shares of the health services provider’s stock worth $12,379,000 after acquiring an additional 274 shares in the last quarter. Investec Asset Management PTY Ltd boosted its holdings in CIGNA by 3.4% in the third quarter. Investec Asset Management PTY Ltd now owns 8,865 shares of the health services provider’s stock worth $1,645,000 after acquiring an additional 290 shares in the last quarter. Bfsg LLC boosted its holdings in CIGNA by 23.1% in the fourth quarter. Bfsg LLC now owns 1,642 shares of the health services provider’s stock worth $333,000 after acquiring an additional 308 shares in the last quarter. Finally, Atria Investments LLC boosted its holdings in CIGNA by 9.6% in the fourth quarter. Atria Investments LLC now owns 3,580 shares of the health services provider’s stock worth $727,000 after acquiring an additional 314 shares in the last quarter. 88.87% of the stock is owned by institutional investors and hedge funds.
In other news, insider Christopher J. Hocevar sold 2,759 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $191.84, for a total value of $529,286.56. Following the completion of the transaction, the insider now directly owns 12,784 shares of the company’s stock, valued at $2,452,482.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicole S. Jones sold 5,856 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $190.68, for a total value of $1,116,622.08. Following the completion of the transaction, the executive vice president now directly owns 36,658 shares of the company’s stock, valued at $6,989,947.44. The disclosure for this sale can be found here. Insiders sold 86,103 shares of company stock valued at $17,217,951 over the last three months. Company insiders own 1.30% of the company’s stock.
CIGNA (NYSE:CI) last released its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $10.53 billion during the quarter, compared to the consensus estimate of $10.28 billion. During the same period last year, the business posted $1.87 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts predict that CIGNA Co. will post 12.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Monday, March 12th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, March 9th. CIGNA’s dividend payout ratio is currently 0.41%.
Several analysts have recently commented on CI shares. Morgan Stanley increased their price objective on CIGNA to $255.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price target for the company in a research report on Friday, December 22nd. Sanford C. Bernstein started coverage on CIGNA in a research report on Tuesday. They set a “hold” rating and a $195.00 price target for the company. Finally, Credit Suisse Group decreased their price target on CIGNA from $232.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $210.42.
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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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