Lake Street Advisors Group LLC Buys New Stake in CIGNA Co. (CI)

Lake Street Advisors Group LLC bought a new stake in shares of CIGNA Co. (NYSE:CI) in the 4th quarter, Holdings Channel reports. The firm bought 1,385 shares of the health services provider’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Nationwide Fund Advisors boosted its holdings in shares of CIGNA by 25.2% in the third quarter. Nationwide Fund Advisors now owns 90,490 shares of the health services provider’s stock valued at $16,916,000 after purchasing an additional 18,206 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CIGNA by 5.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,478 shares of the health services provider’s stock valued at $4,015,000 after purchasing an additional 1,169 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of CIGNA by 1.3% in the third quarter. New York State Common Retirement Fund now owns 662,900 shares of the health services provider’s stock valued at $123,923,000 after purchasing an additional 8,600 shares during the period. ClariVest Asset Management LLC boosted its holdings in shares of CIGNA by 2,328.8% in the third quarter. ClariVest Asset Management LLC now owns 1,773 shares of the health services provider’s stock valued at $332,000 after purchasing an additional 1,700 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of CIGNA by 10.5% in the third quarter. Pacer Advisors Inc. now owns 6,166 shares of the health services provider’s stock valued at $1,153,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 88.83% of the company’s stock.

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CIGNA Co. (NYSE:CI) opened at $165.34 on Friday. The stock has a market capitalization of $40,572.34, a price-to-earnings ratio of 15.99, a PEG ratio of 1.00 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 Co. has a 12-month low of $143.85 and a 12-month high of $227.13.

CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 earnings per share. equities research analysts anticipate that CIGNA Co. will post 12.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Monday, March 12th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, March 9th. CIGNA’s payout ratio is presently 0.46%.

In other news, EVP John M. Murabito sold 28,037 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total transaction of $5,766,650.16. Following the transaction, the executive vice president now directly owns 60,290 shares of the company’s stock, valued at $12,400,447.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William D. Zollars sold 212 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total value of $43,604.16. Following the transaction, the director now directly owns 13,500 shares in the company, valued at $2,776,680. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,103 shares of company stock worth $17,217,951. Insiders own 1.30% of the company’s stock.

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on CIGNA to $255.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of CIGNA from a “buy” rating to a “hold” rating in a research note on Tuesday. Goldman Sachs began coverage on shares of CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective for the company. Sanford C. Bernstein began coverage on shares of CIGNA in a research note on Tuesday, March 13th. They issued a “market perform” rating and a $194.00 price objective for the company. Finally, Credit Suisse Group reduced their price objective on shares of CIGNA from $232.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, March 12th. Five 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 has a consensus rating of “Buy” and a consensus price target of $210.37.

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About CIGNA

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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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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