Xact Kapitalforvaltning AB increased its holdings in shares of CIGNA Co. (NYSE:CI) by 9.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,402 shares of the health services provider’s stock after purchasing an additional 4,405 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in CIGNA were worth $10,845,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in CIGNA during the 4th quarter worth approximately $112,000. Stuart Chaussee & Associates Inc. acquired a new stake in CIGNA during the 4th quarter worth approximately $122,000. Horan Capital Advisors LLC. acquired a new stake in CIGNA during the 3rd quarter worth approximately $123,000. Cerebellum GP LLC acquired a new stake in CIGNA during the 4th quarter worth approximately $127,000. Finally, Aevitas Wealth Management Inc. acquired a new stake in CIGNA in the fourth quarter valued at approximately $162,000. 88.83% of the stock is owned by hedge funds and other institutional investors.
Shares of CIGNA stock traded down $0.29 on Thursday, reaching $166.76. The company had a trading volume of 313,918 shares, compared to its average volume of 2,315,718. CIGNA Co. has a 52-week low of $143.85 and a 52-week high of $227.13. The company has a market capitalization of $40,074.44, a PE ratio of 19.14, a PEG ratio of 0.99 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.
The business 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. This represents a $0.16 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Friday, March 9th. CIGNA’s payout ratio is 0.46%.
Several brokerages have issued reports on CI. Oppenheimer increased their price objective on shares of CIGNA to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley increased their price objective on shares of CIGNA to $255.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price objective for the company in a research report on Friday, December 22nd. ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Goldman Sachs began coverage on shares of CIGNA in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. CIGNA currently has an average rating of “Buy” and a consensus price target of $210.37.
In other CIGNA news, EVP Nicole S. Jones sold 5,856 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $190.68, for a total value of $1,116,622.08. Following the sale, the executive vice president now directly owns 36,658 shares in the company, valued at $6,989,947.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher J. Hocevar sold 2,759 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $191.84, for a total value of $529,286.56. Following the completion of the sale, the insider now owns 12,784 shares in the company, valued at $2,452,482.56. The disclosure for this sale can be found here. Insiders sold 86,103 shares of company stock worth $17,217,951 over the last quarter. 1.30% of the stock is currently owned by company insiders.
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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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