Commerce Bank raised its position in Cigna Corp (NYSE:CI) by 11.9% during the 1st quarter, HoldingsChannel reports. The fund owned 26,692 shares of the health services provider’s stock after buying an additional 2,828 shares during the quarter. Commerce Bank’s holdings in Cigna were worth $4,729,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC raised its stake in shares of Cigna by 1.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,250 shares of the health services provider’s stock worth $869,000 after purchasing an additional 49 shares in the last quarter. ACG Wealth raised its stake in shares of Cigna by 14.8% during the 4th quarter. ACG Wealth now owns 4,234 shares of the health services provider’s stock worth $866,000 after purchasing an additional 547 shares in the last quarter. Factory Mutual Insurance Co. raised its stake in shares of Cigna by 54.6% during the 4th quarter. Factory Mutual Insurance Co. now owns 141,500 shares of the health services provider’s stock worth $28,935,000 after purchasing an additional 50,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Cigna by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,352,110 shares of the health services provider’s stock valued at $685,473,000 after acquiring an additional 196,652 shares during the period. Finally, Cornerstone Advisors Inc. raised its stake in Cigna by 6.2% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,343 shares of the health services provider’s stock valued at $275,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.
Shares of Cigna stock opened at $189.00 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $69.62 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.92 and a beta of 0.68. Cigna Corp has a 52 week low of $118.50 and a 52 week high of $224.64. The stock’s 50-day simple moving average is $185.09 and its 200-day simple moving average is $192.94.
Cigna (NYSE:CI) last posted its earnings results on Thursday, April 30th. The health services provider reported $4.69 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.34. The company had revenue of $38.39 billion for the quarter, compared to the consensus estimate of $37.09 billion. Cigna had a return on equity of 15.05% and a net margin of 3.19%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.90 earnings per share. On average, equities analysts expect that Cigna Corp will post 18.41 earnings per share for the current year.
In other Cigna news, Director William L. Roper sold 2,819 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $192.07, for a total transaction of $541,445.33. Following the sale, the director now directly owns 10,442 shares of the company’s stock, valued at $2,005,594.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicole S. Jones sold 9,357 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $192.00, for a total value of $1,796,544.00. Following the sale, the executive vice president now directly owns 33,486 shares in the company, valued at $6,429,312. The disclosure for this sale can be found here. Insiders sold 119,746 shares of company stock worth $23,449,093 over the last quarter. 0.90% of the stock is owned by company insiders.
A number of research firms have recently commented on CI. Morgan Stanley raised their target price on Cigna from $251.00 to $258.00 and gave the company an “overweight” rating in a research note on Monday, April 13th. UBS Group lifted their price objective on Cigna from $222.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Sanford C. Bernstein lowered Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price objective for the company. in a report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 price objective on shares of Cigna in a report on Monday, February 10th. Finally, Raymond James lifted their price objective on Cigna from $210.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Cigna currently has an average rating of “Buy” and an average target price of $241.43.
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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