Peoples Financial Services CORP. bought a new position in CIGNA Co. (NYSE:CI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 625 shares of the health services provider’s stock, valued at approximately $118,000.
A number of other institutional investors also recently made changes to their positions in CI. Capital World Investors raised its holdings in CIGNA by 172.7% in the 3rd quarter. Capital World Investors now owns 5,464,526 shares of the health services provider’s stock worth $1,137,988,000 after purchasing an additional 3,460,726 shares during the period. Capital Research Global Investors purchased a new stake in CIGNA in the 3rd quarter worth $682,210,000. Ruffer LLP purchased a new stake in CIGNA in the 3rd quarter worth $302,517,000. FMR LLC increased its stake in CIGNA by 18.6% in the 3rd quarter. FMR LLC now owns 8,970,440 shares of the health services provider’s stock worth $1,868,093,000 after buying an additional 1,409,335 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in CIGNA by 706.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 927,292 shares of the health services provider’s stock worth $193,109,000 after buying an additional 812,292 shares in the last quarter. 93.36% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. Zacks Investment Research reiterated a “strong-buy” rating and issued a $246.00 price target on shares of CIGNA in a research note on Monday, November 12th. SunTrust Banks increased their price target on CIGNA and gave the stock a “buy” rating in a research note on Thursday, September 27th. Credit Suisse Group reiterated a “buy” rating and issued a $250.00 price target on shares of CIGNA in a research note on Monday, January 7th. Leerink Swann increased their price target on CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. Finally, Barclays increased their price target on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $229.80.
CIGNA (NYSE:CI) last issued its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.39. The firm had revenue of $11.45 billion during the quarter, compared to analyst estimates of $11.19 billion. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.83 earnings per share. On average, equities analysts expect that CIGNA Co. will post 14.28 EPS for the current fiscal year.
In other news, insider Jason D. Sadler sold 21,189 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $212.99, for a total transaction of $4,513,045.11. Following the completion of the transaction, the insider now owns 41,966 shares in the company, valued at $8,938,338.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William D. Zollars sold 201 shares of the firm’s stock in a transaction dated Friday, December 14th. The shares were 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. In the last 90 days, insiders have sold 24,215 shares of company stock valued at $5,160,680. Company insiders own 1.10% of the company’s stock.
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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