Park National Corp OH Sells 1,888 Shares of Cigna Corp (CI)
Park National Corp OH lowered its stake in Cigna Corp (NYSE:CI) by 16.9% in the 1st quarter, HoldingsChannel reports. The fund owned 9,265 shares of the health services provider’s stock after selling 1,888 shares during the period. Park National Corp OH’s holdings in Cigna were worth $1,490,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Cigna by 42,687.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock valued at $167,000 after buying an additional 31,678,514 shares during the period. BlackRock Inc. boosted its position in shares of Cigna by 59.4% during the fourth quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock valued at $5,107,369,000 after buying an additional 10,021,719 shares during the period. 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 period. FMR LLC boosted its position in shares of Cigna by 12.1% during the fourth quarter. FMR LLC now owns 10,057,798 shares of the health services provider’s stock valued at $1,910,176,000 after buying an additional 1,087,358 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Cigna by 26.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,891,910 shares of the health services provider’s stock valued at $1,308,914,000 after acquiring an additional 1,445,822 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.
Several analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Cigna in a research note on Thursday, December 13th. They set an “overweight” rating and a $304.00 price target for the company. Zacks Investment Research downgraded shares of Cigna from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Stephens assumed coverage on shares of Cigna in a research note on Monday, January 14th. They set an “overweight” rating and a $251.00 price target for the company. Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research note on Saturday, February 2nd. Finally, ValuEngine downgraded shares of Cigna from a “hold” rating to a “sell” rating in a research note on Friday, December 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $231.28.
Shares of NYSE:CI opened at $160.00 on Tuesday. The company has a market capitalization of $61.52 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.71. Cigna Corp has a 52 week low of $158.58 and a 52 week high of $226.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96.
Cigna (NYSE:CI) last issued its quarterly earnings data on Friday, February 1st. The health services provider reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.53 by ($0.07). The business had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $11.38 billion. Cigna had a return on equity of 16.64% and a net margin of 5.42%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period last year, the firm earned $1.94 EPS. On average, sell-side analysts predict that Cigna Corp will post 16.41 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Wednesday, April 10th. Investors of record on Monday, March 11th will be paid a $0.04 dividend. The ex-dividend date is Friday, March 8th. Cigna’s dividend payout ratio (DPR) is 0.28%.
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Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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