Valley National Advisers Inc. trimmed its holdings in Cigna Corp (NYSE:CI) by 7.7% during the first quarter, HoldingsChannel reports. The firm owned 828 shares of the health services provider’s stock after selling 69 shares during the period. Valley National Advisers Inc.’s holdings in Cigna were worth $133,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CI. Kentucky Retirement Systems purchased a new position in Cigna in the 3rd quarter worth approximately $1,996,000. Neuberger Berman Group LLC increased its holdings in shares of Cigna by 15.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 727,150 shares of the health services provider’s stock worth $151,428,000 after buying an additional 95,888 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Cigna during the 3rd quarter worth approximately $255,000. Vestor Capital LLC increased its holdings in shares of Cigna by 102.1% during the 3rd quarter. Vestor Capital LLC now owns 29,833 shares of the health services provider’s stock worth $6,213,000 after buying an additional 15,070 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC increased its holdings in shares of Cigna by 7.0% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 13,800 shares of the health services provider’s stock worth $2,874,000 after buying an additional 900 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.
Cigna stock opened at $160.94 on Monday. Cigna Corp has a fifty-two week low of $141.95 and a fifty-two week high of $226.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $61.17 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.79 and a beta of 0.71.
Cigna (NYSE:CI) last posted its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The company had revenue of $13.75 billion during the quarter, compared to analyst estimates of $11.38 billion. During the same quarter last year, the business posted $1.94 EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. On average, sell-side analysts expect that Cigna Corp will post 16.43 EPS for the current year.
The firm also recently declared a special dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.
In other Cigna news, insider Brian C. Evanko purchased 2,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought at an average price of $163.40 per share, with a total value of $326,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Partridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $184.43, for a total transaction of $184,430.00. The disclosure for this sale can be found here. Insiders sold a total of 10,420 shares of company stock valued at $1,886,122 in the last three months. 0.80% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on CI shares. Edward Jones started coverage on shares of Cigna in a report on Wednesday, January 2nd. They set a “buy” rating for the company. ValuEngine upgraded shares of Cigna from a “sell” rating to a “hold” rating in a report on Thursday, January 3rd. Raymond James upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and set a $187.17 price target for the company in a report on Thursday, January 3rd. Zacks Investment Research downgraded shares of Cigna from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, Wells Fargo & Co cut their price target on shares of Cigna from $221.00 to $200.00 and set a “market perform” rating for the company in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cigna presently has a consensus rating of “Buy” and an average price target of $225.62.
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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