HBK Investments L P boosted its holdings in CIGNA Co. (NYSE:CI) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,000 shares of the health services provider’s stock after purchasing an additional 20,001 shares during the period. CIGNA comprises 0.3% of HBK Investments L P’s portfolio, making the stock its 25th largest position. HBK Investments L P owned 0.06% of CIGNA worth $31,682,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CI. Winslow Capital Management LLC purchased a new position in CIGNA in the fourth quarter valued at about $181,274,000. Investec Asset Management LTD boosted its holdings in CIGNA by 35.4% in the third quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock valued at $345,764,000 after purchasing an additional 483,904 shares during the last quarter. APG Asset Management N.V. boosted its holdings in CIGNA by 148.4% in the fourth quarter. APG Asset Management N.V. now owns 670,299 shares of the health services provider’s stock valued at $113,367,000 after purchasing an additional 400,473 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in CIGNA by 80.8% during the 4th quarter. Acadian Asset Management LLC now owns 871,512 shares of the health services provider’s stock worth $176,992,000 after buying an additional 389,590 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in CIGNA by 30.0% during the 4th quarter. Bank of Montreal Can now owns 1,232,172 shares of the health services provider’s stock worth $250,243,000 after buying an additional 284,384 shares during the last quarter. 88.87% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Christopher J. Hocevar sold 2,759 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $191.84, for a total value of $529,286.56. Following the sale, the insider now directly owns 12,784 shares in the company, valued at approximately $2,452,482.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Cordani sold 36,769 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.68, for a total value of $7,047,881.92. Following the completion of the sale, the chief executive officer now owns 372,076 shares in the company, valued at $71,319,527.68. The disclosure for this sale can be found here. In the last three months, insiders sold 86,103 shares of company stock worth $17,217,951. Company insiders own 1.30% of the company’s stock.
CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.07. The business had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.87 EPS. analysts forecast that CIGNA Co. will post 12.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, March 9th. CIGNA’s dividend payout ratio (DPR) is 0.46%.
A number of research analysts have commented on CI shares. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $231.00 target price on the stock in a report on Friday, December 22nd. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Goldman Sachs Group started coverage on CIGNA in a report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 target price on the stock. Morgan Stanley increased their target price on CIGNA to $255.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Oppenheimer increased their target price on CIGNA to $237.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. CIGNA currently has an average rating of “Buy” and a consensus price target of $211.50.
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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