Palladium Partners LLC Raises Position in Cigna Holding Co (NYSE:CI)

Palladium Partners LLC increased its position in shares of Cigna Holding Co (NYSE:CI) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,020 shares of the health services provider’s stock after buying an additional 3,623 shares during the period. Palladium Partners LLC’s holdings in Cigna were worth $8,550,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brave Asset Management Inc. purchased a new position in shares of Cigna during the fourth quarter valued at $243,000. First Financial Corp IN grew its stake in Cigna by 10.1% in the fourth quarter. First Financial Corp IN now owns 786 shares of the health services provider’s stock valued at $150,000 after purchasing an additional 72 shares during the last quarter. Empirical Finance LLC purchased a new position in Cigna in the third quarter valued at about $1,819,000. Patriot Financial Group Insurance Agency LLC grew its stake in Cigna by 2,281.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,381 shares of the health services provider’s stock valued at $496,000 after purchasing an additional 2,281 shares during the last quarter. Finally, Bridgeway Capital Management Inc. grew its stake in Cigna by 21.5% in the third quarter. Bridgeway Capital Management Inc. now owns 444,550 shares of the health services provider’s stock valued at $92,578,000 after purchasing an additional 78,600 shares during the last quarter. Hedge funds and other institutional investors own 93.55% of the company’s stock.

Several equities analysts have issued reports on CI shares. Edward Jones started coverage on Cigna in a research note on Wednesday, January 2nd. They issued a “buy” rating on the stock. BMO Capital Markets lifted their target price on Cigna from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, November 2nd. Morgan Stanley assumed coverage on Cigna in a research note on Thursday, December 13th. They set an “overweight” rating and a $304.00 price target on the stock. Leerink Swann boosted their price target on Cigna from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, November 19th. Finally, Citigroup boosted their price target on Cigna from $243.00 to $249.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $229.09.

CI opened at $181.37 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.98 and a debt-to-equity ratio of 0.96. The stock has a market cap of $44.17 billion, a P/E ratio of 12.75, a PEG ratio of 0.90 and a beta of 0.72. Cigna Holding Co has a 12-month low of $163.02 and a 12-month high of $226.60.

Cigna (NYSE:CI) last released its quarterly earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.53 by ($0.07). The firm had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. Cigna had a return on equity of 16.64% and a net margin of 5.42%. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 EPS. Equities analysts forecast that Cigna Holding Co will post 16.4 earnings per share for the current year.

In related news, Director William D. Zollars sold 201 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $210.84, for a total transaction of $42,378.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

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Cigna Profile

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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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