Independence Bank of Kentucky acquired a new position in Cigna Corp (NYSE:CI) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 525 shares of the health services provider’s stock, valued at approximately $84,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Clarfeld Financial Advisors LLC bought a new stake in Cigna during the fourth quarter valued at about $25,000. 1 North Wealth Services LLC bought a new stake in Cigna during the fourth quarter valued at about $25,000. Private Ocean LLC bought a new stake in Cigna during the fourth quarter valued at about $26,000. Delta Asset Management LLC TN bought a new stake in Cigna during the fourth quarter valued at about $28,000. Finally, Litman Gregory Asset Management LLC bought a new stake in Cigna during the fourth quarter valued at about $30,000. 88.61% of the stock is owned by institutional investors.
In other news, insider Brian C. Evanko acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $163.40 per share, with a total value of $326,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Zollars sold 272 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Several analysts have issued reports on the company. ValuEngine lowered Cigna from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Barclays cut their price target on Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Zacks Investment Research lowered Cigna from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $245.00 price objective on shares of Cigna in a research report on Sunday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $225.85.
Shares of CI traded down $1.83 during mid-day trading on Wednesday, reaching $152.83. 2,231,999 shares of the company’s stock traded hands, compared to its average volume of 2,890,195. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.76 and a beta of 0.69. Cigna Corp has a 12 month low of $141.95 and a 12 month high of $226.60. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.
Cigna (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.16. The firm had revenue of $33.43 billion for the quarter, compared to analysts’ expectations of $32.79 billion. Cigna had a return on equity of 14.23% and a net margin of 4.11%. The company’s quarterly revenue was up 192.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.11 earnings per share. As a group, analysts predict that Cigna Corp will post 16.54 earnings per share for the current fiscal year.
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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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