Banco de Sabadell S.A Takes $1.18 Million Position in CIGNA Co. (CI)
Banco de Sabadell S.A bought a new position in CIGNA Co. (NYSE:CI) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,795 shares of the health services provider’s stock, valued at approximately $1,176,000.
Other hedge funds have also recently modified their holdings of the company. Nationwide Fund Advisors grew its position in CIGNA by 25.2% during the 3rd quarter. Nationwide Fund Advisors now owns 90,490 shares of the health services provider’s stock worth $16,916,000 after purchasing an additional 18,206 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in CIGNA by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,478 shares of the health services provider’s stock worth $4,015,000 after purchasing an additional 1,169 shares during the period. New York State Common Retirement Fund grew its position in CIGNA by 1.3% during the 3rd quarter. New York State Common Retirement Fund now owns 662,900 shares of the health services provider’s stock worth $123,923,000 after purchasing an additional 8,600 shares during the period. ClariVest Asset Management LLC grew its position in CIGNA by 2,328.8% during the 3rd quarter. ClariVest Asset Management LLC now owns 1,773 shares of the health services provider’s stock worth $332,000 after purchasing an additional 1,700 shares during the period. Finally, Pacer Advisors Inc. grew its position in CIGNA by 10.5% during the 3rd quarter. Pacer Advisors Inc. now owns 6,166 shares of the health services provider’s stock worth $1,153,000 after purchasing an additional 585 shares during the period. Institutional investors own 88.83% of the company’s stock.
Shares of CIGNA Co. (NYSE:CI) opened at $165.34 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. CIGNA Co. has a twelve month low of $143.85 and a twelve month high of $227.13. The stock has a market capitalization of $40,074.44, a PE ratio of 18.94, a P/E/G ratio of 0.99 and a beta of 0.51.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Friday, March 9th. CIGNA’s payout ratio is 0.46%.
In related news, EVP John M. Murabito sold 28,037 shares of CIGNA stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total value of $5,766,650.16. Following the sale, the executive vice president now directly owns 60,290 shares in the company, valued at approximately $12,400,447.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Cordani sold 36,769 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $191.68, for a total transaction of $7,047,881.92. Following the completion of the transaction, the chief executive officer now directly owns 372,076 shares in the company, valued at $71,319,527.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,103 shares of company stock worth $17,217,951. 1.30% of the stock is currently owned by insiders.
CI has been the topic of several analyst reports. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $231.00 price target on the stock in a research report on Friday, December 22nd. Sanford C. Bernstein started coverage on CIGNA in a research report on Tuesday, March 13th. They set a “market perform” rating and a $194.00 price target on the stock. Goldman Sachs started coverage on CIGNA in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 target price on the stock. Finally, Oppenheimer raised their target price on CIGNA to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $210.37.
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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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