Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Cigna Corp (NYSE:CI) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,594 shares of the health services provider’s stock after acquiring an additional 642 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cigna were worth $13,394,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Checchi Capital Advisers LLC increased its position in shares of Cigna by 1.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 4,250 shares of the health services provider’s stock valued at $869,000 after purchasing an additional 49 shares during the period. ACG Wealth boosted its stake in Cigna by 14.8% during the fourth quarter. ACG Wealth now owns 4,234 shares of the health services provider’s stock worth $866,000 after buying an additional 547 shares in the last quarter. Factory Mutual Insurance Co. increased its holdings in Cigna by 54.6% in the 4th quarter. Factory Mutual Insurance Co. now owns 141,500 shares of the health services provider’s stock valued at $28,935,000 after buying an additional 50,000 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Cigna by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,352,110 shares of the health services provider’s stock valued at $685,473,000 after buying an additional 196,652 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Cigna by 6.2% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,343 shares of the health services provider’s stock worth $275,000 after acquiring an additional 78 shares during the period. Institutional investors own 89.71% of the company’s stock.
In other Cigna news, EVP John M. Murabito sold 10,000 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $209.00, for a total transaction of $2,090,000.00. Following the completion of the sale, the executive vice president now directly owns 60,969 shares of the company’s stock, valued at approximately $12,742,521. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 22,582 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $188.54, for a total transaction of $4,257,610.28. Following the transaction, the chief executive officer now owns 34,592 shares in the company, valued at $6,521,975.68. The disclosure for this sale can be found here. Insiders have sold 119,746 shares of company stock worth $23,449,093 in the last ninety days. 0.90% of the stock is currently owned by insiders.
A number of analysts recently weighed in on CI shares. Royal Bank of Canada upped their target price on shares of Cigna from $249.00 to $266.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. UBS Group upped their price objective on Cigna from $222.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. ValuEngine downgraded Cigna from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Deutsche Bank lowered their price target on Cigna from $288.00 to $279.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $245.00 price objective on shares of Cigna in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $241.43.
Shares of CI stock traded up $0.32 during trading hours on Friday, reaching $189.00. 818,668 shares of the company were exchanged, compared to its average volume of 1,479,482. Cigna Corp has a fifty-two week low of $118.50 and a fifty-two week high of $224.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s fifty day moving average is $185.09 and its two-hundred day moving average is $192.94. The company has a market cap of $69.62 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.92 and a beta of 0.68.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, April 30th. The health services provider reported $4.69 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.34. The firm had revenue of $38.39 billion during the quarter, compared to analysts’ expectations of $37.09 billion. Cigna had a net margin of 3.19% and a return on equity of 15.05%. Cigna’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.90 EPS. On average, research analysts anticipate that Cigna Corp will post 18.41 earnings per share for the current year.
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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