Traders Buy Shares of Cigna (CI) on Weakness
Traders bought shares of Cigna Holding Co (NYSE:CI) on weakness during trading on Thursday. $170.55 million flowed into the stock on the tick-up and $97.19 million flowed out of the stock on the tick-down, for a money net flow of $73.36 million into the stock. Of all companies tracked, Cigna had the 3rd highest net in-flow for the day. Cigna traded down ($2.23) for the day and closed at $194.50
Several equities analysts have issued reports on CI shares. Leerink Swann lifted their price target on shares of Cigna from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, November 19th. Cantor Fitzgerald began coverage on shares of Cigna in a report on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 price objective on the stock. ValuEngine raised shares of Cigna from a “sell” rating to a “hold” rating in a research report on Thursday, January 3rd. Raymond James raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $187.17 target price on the stock in a report on Thursday, January 3rd. Finally, Edward Jones began coverage on shares of Cigna in a report on Monday, December 24th. They set a “buy” rating and a $181.30 price objective on the stock. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $229.80.
The company has a market capitalization of $47.87 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 0.81 and a beta of 0.73. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.
In other Cigna news, insider Michael W. Triplett sold 2,825 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $214.25, for a total value of $605,256.25. Following the sale, the insider now owns 23,871 shares in the company, valued at approximately $5,114,361.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Zollars sold 201 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $210.84, for a total value of $42,378.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,215 shares of company stock valued at $5,160,680. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empirical Finance LLC acquired a new stake in shares of Cigna during the 3rd quarter worth $1,819,000. Patriot Financial Group Insurance Agency LLC grew its stake in Cigna by 2,281.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,381 shares of the health services provider’s stock valued at $496,000 after acquiring an additional 2,281 shares during the period. Bridgeway Capital Management Inc. grew its stake in Cigna by 21.5% in the third quarter. Bridgeway Capital Management Inc. now owns 444,550 shares of the health services provider’s stock valued at $92,578,000 after acquiring an additional 78,600 shares during the period. Meiji Yasuda Life Insurance Co grew its stake in Cigna by 7.2% in the third quarter. Meiji Yasuda Life Insurance Co now owns 9,290 shares of the health services provider’s stock valued at $1,935,000 after acquiring an additional 620 shares during the period. Finally, Vanguard Group Inc boosted its position in shares of Cigna by 1.5% during the third quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock valued at $3,706,967,000 after buying an additional 260,042 shares during the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.
Cigna Company Profile (NYSE:CI)
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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