US Bancorp DE decreased its position in shares of Cigna Corp (NYSE:CI) by 5.4% during the 1st quarter, HoldingsChannel reports. The fund owned 188,906 shares of the health services provider’s stock after selling 10,852 shares during the period. US Bancorp DE’s holdings in Cigna were worth $30,379,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its position in shares of Cigna by 42,687.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after acquiring an additional 31,678,514 shares in the last quarter. BlackRock Inc. increased its holdings in Cigna by 59.4% during the 4th quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after purchasing an additional 10,021,719 shares in the last quarter. Norges Bank bought a new stake in Cigna during the 4th quarter worth approximately $737,238,000. Macquarie Group Ltd. increased its holdings in Cigna by 1,413.5% during the 4th quarter. Macquarie Group Ltd. now owns 3,711,240 shares of the health services provider’s stock worth $704,890,000 after purchasing an additional 3,466,030 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Cigna by 179.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock worth $846,447,000 after purchasing an additional 2,860,291 shares in the last quarter. 88.61% of the stock is currently owned by institutional investors.
CI has been the topic of a number of research analyst reports. ValuEngine downgraded Cigna from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Barclays cut their target price on Cigna from $220.00 to $207.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Zacks Investment Research downgraded Cigna from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $245.00 target price on shares of Cigna in a research note on Sunday, April 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $225.85.
In other Cigna news, Director William D. Zollars sold 272 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total transaction of $45,812.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian C. Evanko bought 2,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were bought at an average price of $163.40 per share, for a total transaction of $326,800.00. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Shares of NYSE CI traded down $2.54 during midday trading on Wednesday, reaching $152.12. The company’s stock had a trading volume of 679,401 shares, compared to its average volume of 2,893,899. Cigna Corp has a 12-month low of $141.95 and a 12-month high of $226.60. The company has a market capitalization of $58.69 billion, a PE ratio of 10.70, a PEG ratio of 0.76 and a beta of 0.69. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $3.90 EPS for the quarter, beating the consensus estimate of $3.74 by $0.16. Cigna had a return on equity of 14.23% and a net margin of 4.11%. The business had revenue of $33.43 billion for the quarter, compared to the consensus estimate of $32.79 billion. During the same quarter in the prior year, the business earned $4.11 earnings per share. Cigna’s revenue for the quarter was up 192.9% on a year-over-year basis. As a group, research analysts expect that Cigna Corp will post 16.54 EPS for the current fiscal year.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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