Proffitt & Goodson Inc. decreased its holdings in shares of Cigna Corp (NYSE:CI) by 94.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159 shares of the health services provider’s stock after selling 2,801 shares during the period. Proffitt & Goodson Inc.’s holdings in Cigna were worth $26,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CI. Mascoma Wealth Management LLC raised its position in shares of Cigna by 8.1% in the 4th quarter. Mascoma Wealth Management LLC now owns 709 shares of the health services provider’s stock worth $135,000 after acquiring an additional 53 shares in the last quarter. Howe & Rusling Inc. increased its position in Cigna by 1.3% during the 4th quarter. Howe & Rusling Inc. now owns 4,585 shares of the health services provider’s stock valued at $871,000 after buying an additional 61 shares in the last quarter. Accurate Investment Solutions Inc. increased its position in Cigna by 9.5% during the 1st quarter. Accurate Investment Solutions Inc. now owns 706 shares of the health services provider’s stock valued at $114,000 after buying an additional 61 shares in the last quarter. CX Institutional increased its position in Cigna by 1.9% during the 1st quarter. CX Institutional now owns 3,523 shares of the health services provider’s stock valued at $567,000 after buying an additional 66 shares in the last quarter. Finally, First Command Bank increased its position in Cigna by 11.8% during the 4th quarter. First Command Bank now owns 636 shares of the health services provider’s stock valued at $121,000 after buying an additional 67 shares in the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. ValuEngine lowered Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday. Barclays reduced their price objective on Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a research report on Wednesday. Zacks Investment Research lowered Cigna from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley reduced their price objective on Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a research report on Tuesday, February 5th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $230.47.
CI traded up $3.51 during trading on Thursday, hitting $149.00. 5,127,093 shares of the company’s stock traded hands, compared to its average volume of 2,945,235. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.96. Cigna Corp has a 12-month low of $141.95 and a 12-month high of $226.60. The company has a market cap of $55.29 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 0.81 and a beta of 0.71.
Cigna (NYSE:CI) last issued its earnings results on Friday, February 1st. The health services provider reported $2.46 EPS for the quarter, missing the consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $11.38 billion. During the same quarter in the prior year, the business posted $1.94 earnings per share. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. As a group, research analysts forecast that Cigna Corp will post 16.41 EPS for the current year.
The firm also recently announced a special dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, March 8th. Cigna’s dividend payout ratio is 0.28%.
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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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