APG Asset Management N.V. lessened its position in Cigna Corp (NYSE:CI) by 49.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,590 shares of the health services provider’s stock after selling 272,809 shares during the period. APG Asset Management N.V. owned 0.11% of Cigna worth $46,118,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CI. 1 North Wealth Services LLC bought a new position in shares of Cigna in the fourth quarter valued at approximately $25,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of Cigna during the fourth quarter valued at approximately $25,000. Private Ocean LLC purchased a new stake in shares of Cigna during the fourth quarter valued at approximately $26,000. Delta Asset Management LLC TN purchased a new stake in shares of Cigna during the fourth quarter valued at approximately $28,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Cigna during the fourth quarter valued at approximately $30,000. 88.31% of the stock is owned by institutional investors and hedge funds.
In related news, Director John Partridge sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $184.43, for a total transaction of $184,430.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Zollars sold 272 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,420 shares of company stock worth $1,886,122. 0.80% of the stock is owned by company insiders.
Cigna (NYSE:CI) last released its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The company had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $11.38 billion. During the same period last year, the firm posted $1.94 EPS. The company’s revenue was up 29.3% on a year-over-year basis. As a group, equities research analysts forecast that Cigna Corp will post 16.43 earnings per share for the current fiscal year.
The firm also recently declared a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Barclays decreased their target price on Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a research report on Wednesday. Cantor Fitzgerald reiterated a “buy” rating and issued a $245.00 price target on shares of Cigna in a research report on Sunday. ValuEngine cut Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, Raymond James upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $187.17 price target for the company in a research report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $230.47.
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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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