Grisanti Capital Management LLC boosted its stake in shares of Cigna Corp (NYSE:CI) by 1,084.9% during the first quarter, Holdings Channel reports. The institutional investor owned 29,600 shares of the health services provider’s stock after purchasing an additional 27,102 shares during the quarter. Cigna accounts for 2.9% of Grisanti Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Grisanti Capital Management LLC’s holdings in Cigna were worth $4,760,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its stake in shares of Cigna by 15.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 727,150 shares of the health services provider’s stock valued at $151,428,000 after purchasing an additional 95,888 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in shares of Cigna by 4.1% in the 3rd quarter. Standard Life Aberdeen plc now owns 197,704 shares of the health services provider’s stock valued at $41,172,000 after purchasing an additional 7,843 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Cigna by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 1,228,454 shares of the health services provider’s stock valued at $255,825,000 after purchasing an additional 34,917 shares during the last quarter. Morgan Stanley boosted its stake in shares of Cigna by 16.3% in the 3rd quarter. Morgan Stanley now owns 893,100 shares of the health services provider’s stock valued at $185,987,000 after purchasing an additional 125,427 shares during the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Cigna by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock valued at $3,706,967,000 after purchasing an additional 260,042 shares during the last quarter. 88.61% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. Barclays cut their target price 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. Zacks Investment Research lowered shares of Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. ValuEngine lowered shares of Cigna from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. UBS Group assumed coverage on shares of Cigna in a research note on Tuesday, April 23rd. They set a “buy” rating and a $185.00 target price on the stock. Finally, Stephens assumed coverage on shares of Cigna in a research note on Monday, January 14th. They set an “overweight” rating and a $251.00 target price on the stock. One equities research 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’s stock. The company presently has an average rating of “Buy” and a consensus price target of $225.62.
Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.16. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The firm had revenue of $33.43 billion for the quarter, compared to analyst estimates of $32.79 billion. During the same period last year, the firm earned $4.11 earnings per share. The business’s quarterly revenue was up 192.9% compared to the same quarter last year. Equities research analysts predict that Cigna Corp will post 16.46 EPS for the current year.
The firm also recently disclosed a special dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th were paid a $0.04 dividend. The ex-dividend date was Friday, March 8th. Cigna’s dividend payout ratio (DPR) is 0.28%.
In other Cigna news, insider Michael W. Triplett sold 9,148 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which is available through the SEC website. Also, insider Brian C. Evanko acquired 2,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was acquired 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 10,420 shares of company stock worth $1,886,122 over the last ninety days. Insiders own 0.80% of the company’s stock.
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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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