Macquarie Group Ltd. Has $32.37 Million Position in CIGNA Co. (CI)
Macquarie Group Ltd. increased its position in shares of CIGNA Co. (NYSE:CI) by 24.0% in the second quarter, HoldingsChannel reports. The firm owned 190,481 shares of the health services provider’s stock after acquiring an additional 36,863 shares during the quarter. Macquarie Group Ltd.’s holdings in CIGNA were worth $32,373,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in CIGNA by 213.6% in the first quarter. Victory Capital Management Inc. now owns 57,940 shares of the health services provider’s stock valued at $9,719,000 after acquiring an additional 39,464 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of CIGNA by 29.0% during the first quarter. D.A. Davidson & CO. now owns 2,068 shares of the health services provider’s stock worth $347,000 after buying an additional 465 shares during the period. Chicago Equity Partners LLC boosted its stake in shares of CIGNA by 187.8% during the first quarter. Chicago Equity Partners LLC now owns 4,605 shares of the health services provider’s stock worth $772,000 after buying an additional 3,005 shares during the period. Synovus Financial Corp acquired a new stake in shares of CIGNA during the first quarter worth about $115,000. Finally, Signaturefd LLC acquired a new stake in shares of CIGNA during the first quarter worth about $115,000. Hedge funds and other institutional investors own 89.74% of the company’s stock.
Several equities research analysts have recently weighed in on CI shares. Zacks Investment Research upgraded shares of CIGNA from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research note on Monday, May 28th. Goldman Sachs Group upgraded shares of CIGNA from a “neutral” rating to a “buy” rating and increased their target price for the stock from $193.00 to $212.00 in a research note on Wednesday, June 6th. ValuEngine downgraded shares of CIGNA from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $224.00 target price on shares of CIGNA in a research note on Friday, August 3rd. Finally, SunTrust Banks increased their target price on shares of CIGNA to $244.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $221.77.
NYSE CI opened at $195.11 on Monday. The stock has a market cap of $45.48 billion, a P/E ratio of 18.65, a PEG ratio of 1.10 and a beta of 0.63. CIGNA Co. has a 52-week low of $163.02 and a 52-week high of $227.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.38 and a quick ratio of 0.38.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, August 2nd. The health services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.56. The firm had revenue of $11.50 billion during the quarter, compared to analysts’ expectations of $11.20 billion. CIGNA had a net margin of 5.82% and a return on equity of 22.27%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 earnings per share. sell-side analysts predict that CIGNA Co. will post 13.87 EPS for the current fiscal year.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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