Tiaa Fsb decreased its stake in shares of Cigna Corp (NYSE:CI) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,210 shares of the health services provider’s stock after selling 115 shares during the period. Tiaa Fsb’s holdings in Cigna were worth $2,929,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Clarfeld Financial Advisors LLC bought a new stake in shares of Cigna in the 4th quarter valued at about $25,000. 1 North Wealth Services LLC acquired a new position in shares of Cigna in the 4th quarter valued at approximately $25,000. Private Ocean LLC acquired a new position in shares of Cigna in the 4th quarter valued at approximately $26,000. Delta Asset Management LLC TN acquired a new position in shares of Cigna in the 4th quarter valued at approximately $28,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Cigna in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 88.31% of the company’s stock.
CI has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a research report on Tuesday, February 5th. Wells Fargo & Co reduced their price target on Cigna from $221.00 to $200.00 and set a “market perform” rating for the company in a research report on Thursday, January 3rd. Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Credit Suisse Group reaffirmed a “buy” rating and set a $250.00 price target on shares of Cigna in a research report on Monday, January 7th. Finally, ValuEngine raised Cigna from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Cigna has a consensus rating of “Buy” and an average target price of $231.28.
Cigna (NYSE:CI) last posted its quarterly earnings data on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.53 by ($0.07). The firm had revenue of $13.75 billion for 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 firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. As a group, equities analysts expect that Cigna Corp will post 16.41 EPS for the current fiscal year.
The business also recently declared a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were given a $0.04 dividend. The ex-dividend date was Friday, March 8th. Cigna’s payout ratio is currently 0.28%.
In related news, Director William D. Zollars sold 272 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Partridge sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $184.43, for a total value of $184,430.00. The disclosure for this sale can be found here. Insiders sold 10,420 shares of company stock worth $1,886,122 in the last 90 days. 0.80% of the stock is owned by company insiders.
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Cigna Company Profile
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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