Actinver Wealth Management Inc. purchased a new stake in Cigna Corp (NYSE:CI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,315 shares of the health services provider’s stock, valued at approximately $388,000.
Several other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Cigna by 56.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,304,407 shares of the health services provider’s stock worth $627,573,000 after acquiring an additional 1,189,307 shares during the last quarter. IBM Retirement Fund boosted its position in Cigna by 40.1% during the fourth quarter. IBM Retirement Fund now owns 6,217 shares of the health services provider’s stock worth $1,181,000 after acquiring an additional 1,778 shares during the last quarter. Gotham Asset Management LLC raised its stake in Cigna by 281.4% during the fourth quarter. Gotham Asset Management LLC now owns 221,113 shares of the health services provider’s stock worth $41,994,000 after purchasing an additional 163,135 shares during the period. Brave Asset Management Inc. purchased a new position in Cigna during the fourth quarter worth approximately $243,000. Finally, South State Corp raised its stake in Cigna by 143.4% during the fourth quarter. South State Corp now owns 5,235 shares of the health services provider’s stock worth $994,000 after purchasing an additional 3,084 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.
CI has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Cigna from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Morgan Stanley cut their price target on shares of Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 5th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research note on Saturday, February 2nd. Barclays reaffirmed a “buy” rating and set a $220.00 price target on shares of Cigna in a research note on Sunday, January 6th. Finally, Edward Jones started coverage on shares of Cigna in a research note on Wednesday, January 2nd. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Cigna has a consensus rating of “Buy” and an average price target of $230.47.
Cigna (NYSE:CI) last posted its quarterly earnings results on Friday, February 1st. The health services provider reported $2.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The business had revenue of $13.75 billion during the quarter, compared to analyst estimates of $11.38 billion. During the same period last year, the firm posted $1.94 earnings per share. The company’s quarterly revenue was up 29.3% on a year-over-year basis. On average, analysts forecast that Cigna Corp will post 16.43 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s payout ratio is currently 0.28%.
In other news, Director William D. Zollars sold 272 shares of Cigna stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total value of $45,812.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Evanko bought 2,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was purchased at an average cost of $163.40 per share, for a total transaction of $326,800.00. The disclosure for this purchase can be found here. Insiders sold a total of 10,420 shares of company stock worth $1,886,122 over the last quarter. Insiders own 0.80% of the company’s stock.
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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