Burney Co. Raises Holdings in CIGNA Co. (CI)
Burney Co. raised its position in CIGNA Co. (NYSE:CI) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,208 shares of the health services provider’s stock after buying an additional 2,777 shares during the quarter. Burney Co.’s holdings in CIGNA were worth $4,916,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Winslow Capital Management LLC acquired a new position in CIGNA in the 4th quarter valued at $181,274,000. Investec Asset Management LTD grew its holdings in CIGNA by 35.4% in the 3rd quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock valued at $345,764,000 after buying an additional 483,904 shares in the last quarter. APG Asset Management N.V. grew its holdings in CIGNA by 148.4% in the 4th quarter. APG Asset Management N.V. now owns 670,299 shares of the health services provider’s stock valued at $113,367,000 after buying an additional 400,473 shares in the last quarter. Acadian Asset Management LLC grew its holdings in CIGNA by 80.8% in the 4th quarter. Acadian Asset Management LLC now owns 871,512 shares of the health services provider’s stock valued at $176,992,000 after buying an additional 389,590 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in CIGNA by 30.0% in the 4th quarter. Bank of Montreal Can now owns 1,232,172 shares of the health services provider’s stock valued at $250,243,000 after buying an additional 284,384 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on CI. Morgan Stanley increased their target price on CIGNA from $195.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Citigroup increased their target price on CIGNA from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Goldman Sachs Group began coverage on CIGNA in a report on Wednesday, January 3rd. They set a “neutral” rating and a $247.00 target price on the stock. Finally, Zacks Investment Research lowered CIGNA from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $210.12.
CIGNA (NYSE:CI) last released its quarterly earnings data on Thursday, February 1st. The health services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. The business had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. CIGNA’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $1.87 earnings per share. equities analysts predict that CIGNA Co. will post 12.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Monday, March 12th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.08%. The ex-dividend date is Friday, March 9th. CIGNA’s dividend payout ratio (DPR) is presently 0.41%.
In related news, EVP John M. Murabito sold 28,037 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total value of $5,766,650.16. Following the sale, the executive vice president now directly owns 60,290 shares of the company’s stock, valued at $12,400,447.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Isaiah Harris, Jr. sold 212 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $209.35, for a total value of $44,382.20. The disclosure for this sale can be found here. Insiders sold 40,931 shares of company stock worth $8,568,543 over the last ninety days. 1.30% of the stock is currently owned by insiders.
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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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