Pinnacle Financial Partners Inc. increased its stake in shares of Cigna Holding Co (NYSE:CI) by 7,392.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,873 shares of the health services provider’s stock after purchasing an additional 1,848 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Cigna were worth $356,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its stake in Cigna by 10.8% in the 2nd quarter. FMR LLC now owns 7,561,105 shares of the health services provider’s stock valued at $1,285,010,000 after purchasing an additional 734,965 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Cigna by 44.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 327,182 shares of the health services provider’s stock valued at $68,136,000 after purchasing an additional 100,000 shares during the last quarter. First Hawaiian Bank acquired a new position in Cigna in the 3rd quarter valued at about $1,657,000. Nisa Investment Advisors LLC raised its stake in Cigna by 13.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 117,814 shares of the health services provider’s stock valued at $24,535,000 after purchasing an additional 13,843 shares during the last quarter. Finally, Private Capital Advisors Inc. raised its stake in Cigna by 1.5% in the 3rd quarter. Private Capital Advisors Inc. now owns 47,119 shares of the health services provider’s stock valued at $9,813,000 after purchasing an additional 677 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Cigna from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a research note on Friday, January 4th. ValuEngine raised shares of Cigna from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. BMO Capital Markets upped their price objective on shares of Cigna from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, November 2nd. Credit Suisse Group reaffirmed a “buy” rating and set a $250.00 price objective on shares of Cigna in a research note on Monday, January 7th. Finally, Citigroup upped their price objective on shares of Cigna from $243.00 to $249.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $229.09.
Shares of NYSE:CI opened at $185.12 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.98. Cigna Holding Co has a 1 year low of $163.02 and a 1 year high of $226.60. The stock has a market cap of $44.16 billion, a PE ratio of 13.02, a PEG ratio of 0.90 and a beta of 0.72.
Cigna (NYSE:CI) last issued its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.53 by ($0.07). Cigna had a return on equity of 16.64% and a net margin of 5.42%. The firm had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cigna Holding Co will post 16.4 EPS for the current year.
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Cigna Company Profile
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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