Norway Savings Bank acquired a new position in shares of Cigna Corp (NYSE:CI) during the 4th quarter, Holdings Channel.com reports. The fund acquired 3,630 shares of the health services provider’s stock, valued at approximately $742,000.
A number of other institutional investors have also modified their holdings of CI. Nuveen Asset Management LLC grew its position in Cigna by 1,351.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,334,509 shares of the health services provider’s stock worth $367,802,000 after purchasing an additional 2,173,662 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Cigna by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,933,051 shares of the health services provider’s stock worth $1,659,527,000 after purchasing an additional 714,957 shares during the last quarter. Focused Investors LLC purchased a new position in Cigna during the 3rd quarter worth $72,449,000. Owl Creek Asset Management L.P. purchased a new position in Cigna during the 3rd quarter worth $63,720,000. Finally, Macquarie Group Ltd. grew its position in Cigna by 7.1% during the 2nd quarter. Macquarie Group Ltd. now owns 4,712,181 shares of the health services provider’s stock worth $742,443,000 after purchasing an additional 313,392 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on CI shares. BMO Capital Markets raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research report on Monday, September 30th. Citigroup reaffirmed a “buy” rating and issued a $221.00 target price (up previously from $203.00) on shares of Cigna in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of Cigna from $225.00 to $282.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Stephens lifted their target price on shares of Cigna from $242.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Finally, Cowen reaffirmed a “buy” rating and issued a $250.00 target price on shares of Cigna in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the stock. Cigna currently has a consensus rating of “Buy” and an average price target of $217.75.
CI stock traded up $2.05 during trading on Thursday, reaching $210.28. 691,182 shares of the company were exchanged, compared to its average volume of 1,474,040. The company has a market cap of $76.62 billion, a P/E ratio of 14.79, a PEG ratio of 0.94 and a beta of 0.75. Cigna Corp has a 52-week low of $141.95 and a 52-week high of $212.35. The stock’s 50 day moving average price is $201.34 and its 200 day moving average price is $175.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.63 and a current ratio of 0.63.
Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $4.54 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.17. The firm had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $34.20 billion. Cigna had a net margin of 3.30% and a return on equity of 12.79%. The firm’s revenue was up 213.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.84 earnings per share. As a group, equities research analysts forecast that Cigna Corp will post 16.94 EPS for the current year.
Cigna Company Profile
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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