Meiji Yasuda Life Insurance Co lifted its stake in CIGNA Co. (NYSE:CI) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,290 shares of the health services provider’s stock after acquiring an additional 620 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in CIGNA were worth $1,935,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in CI. Flagship Harbor Advisors LLC acquired a new stake in CIGNA during the second quarter worth $102,000. Sun Life Financial INC boosted its stake in CIGNA by 254.3% during the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after buying an additional 473 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of CIGNA in the 3rd quarter valued at $116,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of CIGNA by 3,122.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after purchasing an additional 687 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of CIGNA by 98.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock valued at $133,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.
Several brokerages have recently commented on CI. Zacks Investment Research restated a “strong-buy” rating and issued a $246.00 target price on shares of CIGNA in a research note on Monday, November 12th. Leerink Swann boosted their target price 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. BMO Capital Markets boosted their target price on shares of CIGNA from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, November 2nd. Jefferies Financial Group restated a “buy” rating and issued a $224.00 target price on shares of CIGNA in a research note on Friday, August 3rd. Finally, Citigroup boosted their target price on shares of CIGNA from $243.00 to $249.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. 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’s stock. CIGNA has a consensus rating of “Buy” and an average target price of $236.29.
CIGNA stock opened at $211.16 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.98 and a quick ratio of 0.98. CIGNA Co. has a 12-month low of $163.02 and a 12-month high of $227.13. The stock has a market capitalization of $51.42 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.19 and a beta of 0.58.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.39. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The business had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the business posted $2.83 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that CIGNA Co. will post 14.35 EPS for the current fiscal year.
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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.
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