QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Cigna Corp (NYSE:CI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,600 shares of the health services provider’s stock, valued at approximately $1,705,000. Cigna accounts for approximately 1.2% of QUANTRES ASSET MANAGEMENT Ltd’s portfolio, making the stock its 20th largest holding.
A number of other institutional investors also recently bought and sold shares of CI. Bank of New York Mellon Corp boosted its stake in shares of Cigna by 56.2% in 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 stake in shares of Cigna by 40.1% in 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 boosted its stake in shares of Cigna by 281.4% in the fourth quarter. Gotham Asset Management LLC now owns 221,113 shares of the health services provider’s stock worth $41,994,000 after acquiring an additional 163,135 shares during the last quarter. Brave Asset Management Inc. acquired a new stake in shares of Cigna in the fourth quarter worth approximately $243,000. Finally, South State Corp boosted its stake in shares of Cigna by 143.4% in the fourth quarter. South State Corp now owns 5,235 shares of the health services provider’s stock worth $994,000 after acquiring an additional 3,084 shares during the last quarter. 88.34% of the stock is currently owned by hedge funds and other institutional investors.
In other Cigna news, Director John Partridge sold 1,000 shares of Cigna stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $184.43, for a total value of $184,430.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William D. Zollars sold 272 shares of Cigna stock in a transaction on 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. Insiders sold 10,420 shares of company stock worth $1,886,122 in the last 90 days. Company insiders own 0.80% of the company’s stock.
Cigna (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $3.90 EPS for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.16. Cigna had a return on equity of 16.64% and a net margin of 5.42%. The company had revenue of $33.43 billion for the quarter, compared to the consensus estimate of $32.79 billion. During the same quarter in the previous year, the business earned $4.11 earnings per share. The company’s revenue for the quarter was up 192.9% on a year-over-year basis. Sell-side analysts anticipate 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. Shareholders of record on Monday, March 11th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s dividend payout ratio is currently 0.28%.
A number of analysts have recently issued reports on CI shares. ValuEngine lowered Cigna from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. UBS Group started coverage on Cigna in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $185.00 price target on the stock. Morgan Stanley lowered their price target on 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 reiterated a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Finally, Barclays reiterated a “buy” rating and set a $220.00 price objective on shares of Cigna in a research report on Sunday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Cigna has an average rating of “Buy” and a consensus price target of $225.62.
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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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