New Jersey Better Educational Savings Trust purchased a new position in CIGNA Co. (NYSE:CI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the health services provider’s stock, valued at approximately $340,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC bought a new position in CIGNA during the 1st quarter valued at about $115,000. Synovus Financial Corp bought a new position in CIGNA during the 1st quarter valued at about $115,000. Elmwood Wealth Management Inc. bought a new position in CIGNA during the 1st quarter valued at about $117,000. Handelsbanken Fonder AB bought a new position in CIGNA during the 2nd quarter valued at about $214,000. Finally, Cambria Investment Management L.P. bought a new position in CIGNA during the 1st quarter valued at about $267,000. Institutional investors own 88.19% of the company’s stock.
In other news, VP Hoeltzel Mary T. Agoglia sold 1,000 shares of the company’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $176.19, for a total transaction of $176,190.00. Following the completion of the sale, the vice president now owns 4,635 shares of the company’s stock, valued at approximately $816,640.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Zollars sold 265 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $176.93, for a total transaction of $46,886.45. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of CIGNA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine cut shares of CIGNA from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Goldman Sachs Group upgraded shares of CIGNA from a “neutral” rating to a “buy” rating and upped their target price for the company from $193.00 to $212.00 in a research note on Wednesday, June 6th. Finally, Credit Suisse Group upped their target price on shares of CIGNA from $215.00 to $218.00 and gave the company an “outperform” rating in a research note on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $217.00.
Shares of CIGNA traded down $0.35, hitting $176.90, during midday trading on Monday, according to Marketbeat Ratings. 54,955 shares of the company’s stock traded hands, compared to its average volume of 1,848,398. CIGNA Co. has a 1 year low of $163.02 and a 1 year high of $227.13. The firm has a market capitalization of $43.12 billion, a P/E ratio of 16.85, a PEG ratio of 1.11 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.37.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, May 3rd. The health services provider reported $4.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.39 by $0.72. CIGNA had a net margin of 5.99% and a return on equity of 20.90%. The firm had revenue of $11.38 billion during the quarter, compared to analyst estimates of $10.97 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts anticipate that CIGNA Co. will post 13.24 EPS for the current year.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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