CIGNA Co. (NYSE:CI) was the recipient of some unusual options trading on Thursday. Investors bought 2,841 put options on the company. This is an increase of approximately 847% compared to the average daily volume of 300 put options.
In related news, Chairman Isaiah Harris, Jr. sold 212 shares of CIGNA stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $209.35, for a total transaction of $44,382.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John M. Murabito sold 28,037 shares of CIGNA stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total value of $5,766,650.16. Following the transaction, the executive vice president now directly owns 60,290 shares in the company, valued at approximately $12,400,447.20. The disclosure for this sale can be found here. Insiders sold 63,185 shares of company stock valued at $12,789,459 in the last three months. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. CHURCHILL MANAGEMENT Corp raised its stake in shares of CIGNA by 33.5% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 8,278 shares of the health services provider’s stock valued at $1,681,000 after buying an additional 2,075 shares during the period. Sawyer & Company Inc bought a new stake in shares of CIGNA in the fourth quarter valued at $1,319,000. First American Trust FSB bought a new stake in shares of CIGNA in the fourth quarter valued at $747,000. First Citizens Bank & Trust Co. raised its stake in shares of CIGNA by 100.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,340 shares of the health services provider’s stock valued at $1,288,000 after buying an additional 3,183 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of CIGNA by 8.2% in the third quarter. Parametric Portfolio Associates LLC now owns 729,690 shares of the health services provider’s stock valued at $136,408,000 after buying an additional 55,395 shares during the period. Hedge funds and other institutional investors own 87.74% of the company’s stock.
CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.47. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. CIGNA had a return on equity of 18.85% and a net margin of 5.74%. CIGNA’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. analysts anticipate that CIGNA will post 10.34 EPS for the current fiscal year.
Several research analysts recently issued reports on CI shares. Jefferies Group lifted their target price on CIGNA from $221.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research cut CIGNA from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $191.00 target price on shares of CIGNA in a research report on Sunday, September 17th. Finally, BMO Capital Markets assumed coverage on CIGNA in a research report on Monday, October 16th. They set a “market perform” rating and a $210.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $205.18.
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Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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