Assetmark Inc. lifted its stake in shares of CIGNA Co. (NYSE:CI) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,722 shares of the health services provider’s stock after acquiring an additional 1,121 shares during the period. Assetmark Inc.’s holdings in CIGNA were worth $9,938,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of CIGNA during the 2nd quarter worth about $102,000. Ancora Advisors LLC acquired a new stake in shares of CIGNA during the 3rd quarter worth about $106,000. Sun Life Financial INC increased its position in shares of CIGNA by 254.3% during the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after purchasing an additional 473 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of CIGNA during the 3rd quarter worth about $116,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of CIGNA by 3,122.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock worth $120,000 after purchasing an additional 687 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.
CI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded CIGNA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Barclays raised their price objective on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Leerink Swann raised their price objective on CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, September 21st. Citigroup raised their price objective on CIGNA from $243.00 to $249.00 and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, Credit Suisse Group raised their price objective on CIGNA from $223.00 to $237.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. CIGNA presently has a consensus rating of “Buy” and an average price target of $236.29.
NYSE CI opened at $206.11 on Friday. The stock has a market capitalization of $53.05 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.23 and a beta of 0.54. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.98 and a quick ratio of 0.98. CIGNA Co. has a 1-year low of $163.02 and a 1-year high of $227.13.
CIGNA (NYSE:CI) last released its earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.39. The company had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $11.19 billion. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. CIGNA’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.83 EPS. On average, sell-side analysts forecast that CIGNA Co. will post 14.35 earnings per share for the current fiscal year.
In other CIGNA news, Director William D. Zollars sold 238 shares of CIGNA stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael W. Triplett sold 2,825 shares of CIGNA stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $214.25, for a total value of $605,256.25. Following the completion of the transaction, the insider now directly owns 23,871 shares of the company’s stock, valued at $5,114,361.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,252 shares of company stock valued at $5,164,402. 1.10% of the stock is currently owned by corporate insiders.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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