NuWave Investment Management LLC acquired a new stake in Cigna Corp (NYSE:CI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,623 shares of the health services provider’s stock, valued at approximately $1,226,000. Cigna comprises about 1.4% of NuWave Investment Management LLC’s portfolio, making the stock its 7th biggest position.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC lifted its position in Cigna by 8.1% in the 4th quarter. Mascoma Wealth Management LLC now owns 709 shares of the health services provider’s stock valued at $135,000 after acquiring an additional 53 shares in the last quarter. Howe & Rusling Inc. lifted its position in Cigna by 1.3% in the 4th quarter. Howe & Rusling Inc. now owns 4,585 shares of the health services provider’s stock valued at $871,000 after acquiring an additional 61 shares in the last quarter. Accurate Investment Solutions Inc. lifted its position in Cigna by 9.5% in the 1st quarter. Accurate Investment Solutions Inc. now owns 706 shares of the health services provider’s stock valued at $114,000 after acquiring an additional 61 shares in the last quarter. CX Institutional lifted its position in Cigna by 1.9% in the 1st quarter. CX Institutional now owns 3,523 shares of the health services provider’s stock valued at $567,000 after acquiring an additional 66 shares in the last quarter. Finally, First Command Bank increased its stake in Cigna by 11.8% in the 4th quarter. First Command Bank now owns 636 shares of the health services provider’s stock valued at $121,000 after buying an additional 67 shares during the last quarter. 88.34% of the stock is currently owned by institutional investors.
In other Cigna news, insider Michael W. Triplett sold 9,148 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $181.01, for a total value of $1,655,879.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $45,812.96. The disclosure for this sale can be found here. Insiders sold a total of 10,420 shares of company stock valued at $1,886,122 in the last three months. Insiders own 0.80% of the company’s stock.
Cigna (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $3.90 EPS for the quarter, topping the consensus estimate of $3.74 by $0.16. The business had revenue of $33.43 billion during the quarter, compared to the consensus estimate of $32.79 billion. Cigna had a net margin of 5.42% and a return on equity of 16.64%. Cigna’s revenue was up 192.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.11 EPS. On average, research analysts forecast that Cigna Corp will post 16.43 EPS for the current year.
The business also recently announced 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 payout ratio is 0.28%.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Cigna from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research note on Friday, January 4th. ValuEngine lowered shares of Cigna from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Barclays lowered their price target on shares of Cigna from $220.00 to $207.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $245.00 price target on shares of Cigna in a research note on Sunday, April 21st. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $250.00 price target on shares of Cigna in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $225.62.
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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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