Sciencast Management LP acquired a new stake in shares of CIGNA Co. (NYSE:CI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,265 shares of the health services provider’s stock, valued at approximately $1,598,000. CIGNA makes up 0.9% of Sciencast Management LP’s investment portfolio, making the stock its 11th biggest holding.
Other large investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new stake in shares of CIGNA in the fourth quarter worth approximately $112,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of CIGNA in the fourth quarter worth approximately $122,000. Horan Capital Advisors LLC. bought a new stake in shares of CIGNA in the third quarter worth approximately $123,000. Cerebellum GP LLC bought a new stake in shares of CIGNA in the fourth quarter worth approximately $127,000. Finally, Aevitas Wealth Management Inc. bought a new stake in shares of CIGNA in the fourth quarter worth approximately $162,000. Institutional investors and hedge funds own 88.87% of the company’s stock.
CIGNA Co. (CI) opened at $164.39 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. The stock has a market cap of $40,635.48, a P/E ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 0.51. CIGNA Co. has a 1-year low of $143.85 and a 1-year high of $227.13.
The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, March 9th. CIGNA’s payout ratio is 0.46%.
In other CIGNA news, Director William D. Zollars sold 212 shares of CIGNA stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total transaction of $43,604.16. Following the transaction, the director now owns 13,500 shares of the company’s stock, valued at $2,776,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher J. Hocevar sold 2,759 shares of CIGNA stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.84, for a total transaction of $529,286.56. Following the transaction, the insider now directly owns 12,784 shares in the company, valued at approximately $2,452,482.56. 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. 1.30% of the stock is currently owned by insiders.
CI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price target for the company in a research note on Friday, December 22nd. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Credit Suisse Group reduced their price target on shares of CIGNA from $232.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday. Barclays initiated coverage on shares of CIGNA in a research note on Thursday, March 8th. They issued an “overweight” rating and a $235.00 price target for the company. Finally, Oppenheimer lifted their price target on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. CIGNA currently has an average rating of “Buy” and an average target price of $210.37.
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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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