Sivik Global Healthcare LLC raised its stake in CIGNA Co. (NYSE:CI) by 60.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,000 shares of the health services provider’s stock after buying an additional 15,000 shares during the quarter. CIGNA comprises approximately 3.0% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 7th biggest holding. Sivik Global Healthcare LLC’s holdings in CIGNA were worth $8,330,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in CIGNA by 29.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,938,791 shares of the health services provider’s stock worth $403,708,000 after buying an additional 440,063 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in shares of CIGNA by 7.2% in the third quarter. Meiji Yasuda Life Insurance Co now owns 9,290 shares of the health services provider’s stock valued at $1,935,000 after purchasing an additional 620 shares during the last quarter. FDx Advisors Inc. acquired a new position in shares of CIGNA in the third quarter valued at $204,000. Pictet Asset Management Ltd. increased its holdings in shares of CIGNA by 2.9% in the third quarter. Pictet Asset Management Ltd. now owns 362,802 shares of the health services provider’s stock valued at $75,554,000 after purchasing an additional 10,371 shares during the last quarter. Finally, Korea Investment CORP increased its holdings in shares of CIGNA by 72.6% in the third quarter. Korea Investment CORP now owns 163,480 shares of the health services provider’s stock valued at $34,045,000 after purchasing an additional 68,742 shares during the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Michael W. Triplett sold 2,825 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $214.25, for a total value of $605,256.25. Following the completion of the transaction, the insider now owns 23,871 shares of the company’s stock, valued at $5,114,361.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason D. Sadler sold 21,189 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $212.99, for a total value of $4,513,045.11. Following the completion of the transaction, the insider now directly owns 41,966 shares of the company’s stock, valued at approximately $8,938,338.34. The disclosure for this sale can be found here. Insiders sold 24,252 shares of company stock valued at $5,164,402 in the last three months. Company insiders own 1.10% of the company’s stock.
CIGNA (NYSE:CI) last posted its earnings results on Thursday, November 1st. The health services provider reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.39. The firm had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.83 earnings per share. As a group, equities analysts predict that CIGNA Co. will post 14.35 EPS for the current fiscal year.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price target on the stock in a research note on Tuesday, August 7th. Leerink Swann upped their price target on shares of CIGNA from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, November 19th. ValuEngine downgraded shares of CIGNA from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Cantor Fitzgerald assumed coverage on shares of CIGNA in a research note on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 price target on the stock. Finally, Cowen assumed coverage on shares of CIGNA in a research note on Monday, September 17th. They issued an “outperform” rating and a $240.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $236.29.
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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.
Further Reading: Market Capitalization and Individual Investors
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