Metropolitan Life Insurance Co. NY lessened its position in CIGNA Co. (NYSE:CI) by 63.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 46,875 shares of the health services provider’s stock after selling 82,457 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in CIGNA were worth $9,520,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Vident Investment Advisory LLC lifted its holdings in shares of CIGNA by 3.0% in the fourth quarter. Vident Investment Advisory LLC now owns 20,312 shares of the health services provider’s stock valued at $4,126,000 after purchasing an additional 591 shares in the last quarter. Zeke Capital Advisors LLC lifted its holdings in shares of CIGNA by 34.4% in the fourth quarter. Zeke Capital Advisors LLC now owns 5,701 shares of the health services provider’s stock valued at $1,158,000 after purchasing an additional 1,459 shares in the last quarter. Sciencast Management LP bought a new position in shares of CIGNA in the fourth quarter valued at approximately $1,598,000. Meadow Creek Investment Management LLC lifted its holdings in shares of CIGNA by 10.5% in the fourth quarter. Meadow Creek Investment Management LLC now owns 31,756 shares of the health services provider’s stock valued at $6,449,000 after purchasing an additional 3,026 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of CIGNA by 22.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,914 shares of the health services provider’s stock valued at $2,420,000 after purchasing an additional 2,203 shares in the last quarter. 88.87% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on CIGNA in a report on Tuesday. They issued a “market perform” rating and a $194.00 target price on the stock. Barclays began coverage on CIGNA in a report on Thursday, March 8th. They set an “overweight” rating and a $235.00 price target on the stock. Credit Suisse Group dropped their price target on CIGNA from $232.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, March 12th. ValuEngine upgraded CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Goldman Sachs began coverage on CIGNA in a report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 price target on the stock. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $210.37.
Shares of CIGNA Co. (NYSE CI) opened at $168.67 on Friday. The stock has a market capitalization of $40,535.90, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.37. CIGNA Co. has a one year low of $143.85 and a one year high of $227.13.
CIGNA (NYSE:CI) last issued its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.07. The firm had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 earnings per share. equities research analysts predict that CIGNA Co. will post 12.9 EPS for the current 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 paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. CIGNA’s payout ratio is presently 0.46%.
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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