Ardsley Advisory Partners boosted its stake in shares of CIGNA Co. (NYSE:CI) by 71.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the health services provider’s stock after purchasing an additional 2,500 shares during the quarter. Ardsley Advisory Partners’ holdings in CIGNA were worth $1,220,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CI. Financial Gravity Companies Inc. purchased a new stake in CIGNA during the 4th quarter worth about $112,000. Stuart Chaussee & Associates Inc. purchased a new stake in CIGNA during the 4th quarter worth about $122,000. Horan Capital Advisors LLC. purchased a new stake in CIGNA during the 3rd quarter worth about $123,000. Cerebellum GP LLC purchased a new stake in CIGNA during the 4th quarter worth about $127,000. Finally, Aevitas Wealth Management Inc. purchased a new stake in CIGNA during the 4th quarter worth about $162,000. Institutional investors own 88.87% of the company’s stock.
In other CIGNA news, Director William D. Zollars sold 212 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total transaction of $43,604.16. Following the completion of the sale, the director now directly owns 13,500 shares of the company’s stock, valued at approximately $2,776,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicole S. Jones sold 5,856 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $190.68, for a total value of $1,116,622.08. Following the sale, the executive vice president now directly owns 36,658 shares of the company’s stock, valued at $6,989,947.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,103 shares of company stock valued at $17,217,951. Insiders own 1.30% of the company’s stock.
CIGNA (NYSE:CI) last announced its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $10.53 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $1.87 EPS. research analysts anticipate that CIGNA Co. will post 12.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be given a $0.04 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. CIGNA’s dividend payout ratio (DPR) is presently 0.41%.
Several brokerages have weighed in on CI. Credit Suisse Group cut their price target on CIGNA from $232.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday. Barclays started coverage on CIGNA in a research report on Thursday, March 8th. They set an “overweight” rating and a $235.00 price objective for the company. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Goldman Sachs Group started coverage on CIGNA in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 price objective for the company. Finally, Oppenheimer upped their price objective on CIGNA to $237.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $211.28.
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.
Receive News & Ratings for CIGNA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CIGNA and related companies with MarketBeat.com's FREE daily email newsletter.