Cigna Investments Inc. New Has $498,000 Position in CenturyLink, Inc. (CTL)
Cigna Investments Inc. New lowered its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,837 shares of the technology company’s stock after selling 1,302 shares during the period. Cigna Investments Inc. New’s holdings in CenturyLink were worth $498,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CTL. Macquarie Group Ltd. increased its position in CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock valued at $1,049,000 after buying an additional 18,124 shares during the period. Gulf International Bank UK Ltd increased its position in CenturyLink by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 171,101 shares of the technology company’s stock valued at $4,032,000 after buying an additional 2,225 shares during the period. National Pension Service increased its position in CenturyLink by 21.8% in the first quarter. National Pension Service now owns 539,876 shares of the technology company’s stock valued at $12,638,000 after buying an additional 96,620 shares during the period. Capstone Asset Management Co. increased its position in CenturyLink by 6.6% in the first quarter. Capstone Asset Management Co. now owns 86,124 shares of the technology company’s stock valued at $2,030,000 after buying an additional 5,342 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in CenturyLink by 11.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,160 shares of the technology company’s stock valued at $1,194,000 after buying an additional 5,337 shares during the period. Institutional investors own 77.77% of the company’s stock.
CenturyLink, Inc. (NYSE CTL) opened at 20.54 on Wednesday. CenturyLink, Inc. has a 52-week low of $20.53 and a 52-week high of $33.45. The company has a 50-day moving average price of $22.99 and a 200 day moving average price of $24.23. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 29.77 and a beta of 0.87.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
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A number of research firms have commented on CTL. Zacks Investment Research raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, April 26th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 price target on the stock in a report on Monday, May 1st. Cowen and Company set a $25.00 price target on CenturyLink and gave the company a “market perform” rating in a report on Thursday, May 4th. Jefferies Group LLC decreased their price target on CenturyLink from $26.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, May 4th. Finally, Bank of America Corporation reissued a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. CenturyLink has a consensus rating of “Hold” and an average target price of $26.22.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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