CIGNA Co. (CI) Shares Sold by USA Financial Portformulas Corp
USA Financial Portformulas Corp lowered its holdings in CIGNA Co. (NYSE:CI) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,224 shares of the health services provider’s stock after selling 426 shares during the period. USA Financial Portformulas Corp’s holdings in CIGNA were worth $3,701,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Financial Gravity Companies Inc. purchased a new stake in CIGNA in the 4th quarter worth approximately $112,000. Stuart Chaussee & Associates Inc. purchased a new stake in CIGNA in the 4th quarter worth approximately $122,000. Horan Capital Advisors LLC. purchased a new stake in CIGNA in the 3rd quarter worth approximately $123,000. Cerebellum GP LLC purchased a new position in shares of CIGNA in the 4th quarter valued at approximately $127,000. Finally, Aevitas Wealth Management Inc. purchased a new position in shares of CIGNA in the 4th quarter valued at approximately $162,000. Institutional investors and hedge funds own 87.47% of the company’s stock.
CIGNA Co. (NYSE CI) traded down $2.04 during trading on Monday, hitting $191.02. The company’s stock had a trading volume of 70,614 shares, compared to its average volume of 1,410,593. The company has a market cap of $46,889.52, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. CIGNA Co. has a twelve month low of $143.85 and a twelve month high of $227.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Monday, March 12th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date of this dividend is Friday, March 9th. CIGNA’s payout ratio is 0.46%.
In related news, EVP John M. Murabito sold 6,099 shares of CIGNA stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $220.10, for a total value of $1,342,389.90. Following the completion of the sale, the executive vice president now owns 68,026 shares of the company’s stock, valued at $14,972,522.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jane E. Md Henney sold 400 shares of CIGNA stock in a transaction on Friday, January 12th. The stock was sold at an average price of $212.96, for a total value of $85,184.00. The disclosure for this sale can be found here. In the last three months, insiders sold 40,931 shares of company stock valued at $8,568,543. Corporate insiders own 1.30% of the company’s stock.
CI has been the subject of a number of research analyst reports. ValuEngine upgraded CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $231.00 target price for the company in a research note on Friday, December 22nd. Goldman Sachs Group initiated coverage on CIGNA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 target price for the company. Oppenheimer raised their target price on CIGNA to $237.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley raised their target price on CIGNA to $255.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. CIGNA has a consensus rating of “Buy” and a consensus target price of $210.12.
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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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