Montag A & Associates Inc. Takes Position in CIGNA Co. (CI)
Montag A & Associates Inc. bought a new stake in shares of CIGNA Co. (NYSE:CI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,843 shares of the health services provider’s stock, valued at approximately $800,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp purchased a new stake in CIGNA in the 3rd quarter worth $224,000. Highstreet Asset Management Inc. lifted its stake in CIGNA by 13.9% in the 3rd quarter. Highstreet Asset Management Inc. now owns 9,642 shares of the health services provider’s stock worth $2,008,000 after purchasing an additional 1,176 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in CIGNA by 1.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,038 shares of the health services provider’s stock worth $17,502,000 after purchasing an additional 1,270 shares in the last quarter. Granite Investment Advisors LLC purchased a new stake in CIGNA in the 3rd quarter worth $208,000. Finally, Toronto Dominion Bank lifted its stake in CIGNA by 1.3% in the 3rd quarter. Toronto Dominion Bank now owns 158,340 shares of the health services provider’s stock worth $32,966,000 after purchasing an additional 1,996 shares in the last quarter. Institutional investors own 89.50% of the company’s stock.
CI has been the topic of several research analyst reports. ValuEngine upgraded shares of CIGNA from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. BMO Capital Markets boosted their target price on shares of CIGNA from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, November 2nd. Jefferies Financial Group restated a “buy” rating and issued a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. SunTrust Banks boosted their target price on shares of CIGNA to $244.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Citigroup boosted their target price on shares of CIGNA from $243.00 to $249.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $235.57.
CIGNA stock opened at $212.80 on Friday. CIGNA Co. has a twelve month low of $163.02 and a twelve month high of $227.13. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $51.88 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58.
CIGNA (NYSE:CI) last posted its earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.39. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The firm had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the previous year, the firm posted $2.83 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts forecast that CIGNA Co. will post 14.36 earnings per share for the current fiscal year.
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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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