Commonwealth Bank of Australia Has $5.80 Million Position in Cigna Corporation (CI)
Commonwealth Bank of Australia grew its holdings in shares of Cigna Corporation (NYSE:CI) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,081 shares of the health services provider’s stock after acquiring an additional 1,557 shares during the quarter. Commonwealth Bank of Australia’s holdings in Cigna were worth $5,803,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Saratoga Research & Investment Management bought a new stake in Cigna in the third quarter valued at approximately $112,000. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Cigna during the 2nd quarter worth approximately $106,000. Horan Capital Advisors LLC. bought a new position in shares of Cigna during the 3rd quarter worth approximately $123,000. Parallel Advisors LLC boosted its holdings in shares of Cigna by 62.3% during the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Cigna by 171.9% during the 3rd quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock worth $182,000 after buying an additional 617 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on CI shares. Morgan Stanley increased their target price on Cigna from $184.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Deutsche Bank increased their price target on Cigna from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, August 7th. BidaskClub raised Cigna from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Jefferies Group increased their price target on Cigna from $221.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $196.00 target price on shares of Cigna in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $201.50.
Shares of Cigna Corporation (NYSE:CI) traded up $5.90 during midday trading on Friday, hitting $211.73. The company had a trading volume of 2,069,200 shares, compared to its average volume of 1,355,296. The stock has a market cap of $51,380.00, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.49. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. Cigna Corporation has a 52 week low of $131.03 and a 52 week high of $212.46.
Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.17 billion. Cigna had a return on equity of 18.85% and a net margin of 5.74%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. sell-side analysts anticipate that Cigna Corporation will post 10.34 earnings per share for the current fiscal year.
In other Cigna news, EVP Alan Muney sold 15,345 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the sale, the executive vice president now directly owns 28,457 shares of the company’s stock, valued at $5,714,165.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher J. Hocevar sold 8,387 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $200.32, for a total value of $1,680,083.84. Following the completion of the sale, the insider now directly owns 12,363 shares in the company, valued at $2,476,556.16. The disclosure for this sale can be found here. Insiders have sold 36,203 shares of company stock worth $7,211,251 over the last three months. Insiders own 1.30% of the company’s stock.
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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