Public Employees Retirement System of Ohio increased its stake in Cigna Corporation (NYSE:CI) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,361 shares of the health services provider’s stock after acquiring an additional 611 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of Cigna worth $31,847,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CI. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Cigna during the second quarter valued at approximately $106,000. Saratoga Research & Investment Management acquired a new stake in Cigna during the third quarter valued at approximately $112,000. Horan Capital Advisors LLC. acquired a new stake in Cigna during the third quarter valued at approximately $123,000. Parallel Advisors LLC lifted its stake in Cigna by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in Cigna by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock valued at $167,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Cigna from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Citigroup increased their target price on shares of Cigna from $198.00 to $231.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Morgan Stanley increased their target price on shares of Cigna from $195.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Jefferies Group increased their target price on shares of Cigna from $221.00 to $231.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $220.00 target price (up from $185.00) on shares of Cigna in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $201.50.
Shares of Cigna Corporation (NYSE:CI) opened at $204.14 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $50,219.71, a P/E ratio of 19.62, a P/E/G ratio of 1.56 and a beta of 0.50. Cigna Corporation has a 12-month low of $133.11 and a 12-month high of $212.46.
Cigna (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.17 billion. Cigna had a net margin of 5.74% and a return on equity of 18.85%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 EPS. research analysts forecast that Cigna Corporation will post 10.34 earnings per share for the current year.
In other Cigna news, EVP Alan Muney sold 15,345 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $200.80, for a total value of $3,081,276.00. Following the transaction, the executive vice president now owns 28,457 shares in the company, valued at approximately $5,714,165.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mary T. Hoeltzel sold 575 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $197.03, for a total transaction of $113,292.25. Following the completion of the transaction, the chief accounting officer now owns 2,499 shares in the company, valued at approximately $492,377.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,936 shares of company stock valued at $6,979,204. 1.30% of the stock is owned by insiders.
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Cigna Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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