Thrivent Financial for Lutherans raised its position in CIGNA Co. (NYSE:CI) by 6.0% during the fourth quarter, Holdings Channel reports. The firm owned 8,890 shares of the company’s stock after buying an additional 500 shares during the period. Thrivent Financial for Lutherans’ holdings in CIGNA were worth $1,186,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of CI. Macquarie Group Ltd. increased its stake in CIGNA by 4.6% in the second quarter. Macquarie Group Ltd. now owns 119,118 shares of the company’s stock worth $15,246,000 after buying an additional 5,288 shares during the period. Eqis Capital Management Inc. increased its stake in CIGNA by 5.7% in the third quarter. Eqis Capital Management Inc. now owns 3,976 shares of the company’s stock worth $518,000 after buying an additional 214 shares during the period. Oregon Public Employees Retirement Fund increased its stake in CIGNA by 46.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 57,567 shares of the company’s stock worth $7,502,000 after buying an additional 18,306 shares during the period. Atria Investments LLC increased its stake in CIGNA by 5.8% in the third quarter. Atria Investments LLC now owns 2,116 shares of the company’s stock worth $276,000 after buying an additional 116 shares during the period. Finally, AT Bancorp acquired a new stake in CIGNA during the third quarter worth about $1,222,000. 85.65% of the stock is owned by hedge funds and other institutional investors.
CIGNA Co. (NYSE:CI) opened at 151.13 on Tuesday. The stock’s 50 day moving average price is $149.07 and its 200 day moving average price is $136.80. CIGNA Co. has a 1-year low of $115.03 and a 1-year high of $154.83. The stock has a market capitalization of $38.85 billion, a PE ratio of 21.02 and a beta of 0.53.
CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.13. CIGNA had a return on equity of 15.77% and a net margin of 4.71%. The firm earned $9.94 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period last year, the company posted $1.87 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that CIGNA Co. will post $9.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Friday, March 10th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. CIGNA’s payout ratio is presently 0.56%.
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A number of analysts recently issued reports on CI shares. Piper Jaffray Companies started coverage on shares of CIGNA in a research report on Wednesday, January 4th. They set an “overweight” rating and a $170.00 target price for the company. Zacks Investment Research downgraded shares of CIGNA from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Citigroup Inc increased their price objective on shares of CIGNA from $139.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. Jefferies Group LLC reaffirmed a “buy” rating on shares of CIGNA in a research report on Friday, February 3rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $151.00 price objective on shares of CIGNA in a research report on Friday, February 3rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. CIGNA currently has an average rating of “Buy” and an average target price of $161.15.
In other CIGNA news, CFO Thomas A. Mccarthy sold 4,464 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $146.54, for a total transaction of $654,154.56. Following the completion of the sale, the chief financial officer now directly owns 80,531 shares in the company, valued at approximately $11,801,012.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 43,637 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $147.78, for a total value of $6,448,675.86. Following the sale, the chief executive officer now owns 306,194 shares of the company’s stock, valued at $45,249,349.32. The disclosure for this sale can be found here. Insiders have sold a total of 56,410 shares of company stock valued at $8,320,431 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.
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, Other Operations and Corporate.
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