Great West Life Assurance Co. Can Boosts Position in Cigna Corporation (CI)
Great West Life Assurance Co. Can increased its position in shares of Cigna Corporation (NYSE:CI) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,401 shares of the health services provider’s stock after acquiring an additional 16,023 shares during the period. Great West Life Assurance Co. Can owned about 0.14% of Cigna worth $64,258,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saratoga Research & Investment Management acquired a new position in Cigna during the 3rd quarter worth about $112,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Cigna in the 2nd quarter valued at about $106,000. Horan Capital Advisors LLC. acquired a new stake in Cigna in the 3rd quarter valued at about $123,000. Parallel Advisors LLC raised its position in Cigna by 62.3% in the 2nd quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 307 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its position in Cigna by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the health services provider’s stock valued at $167,000 after purchasing an additional 400 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on CI shares. Jefferies Group LLC increased their price target on Cigna from $221.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price target (up previously from $185.00) on shares of Cigna in a research report on Friday, November 3rd. Zacks Investment Research raised Cigna from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $191.00 price target on shares of Cigna in a research report on Sunday, September 17th. Finally, Credit Suisse Group started coverage on Cigna in a research report on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 price target on the stock. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $201.50.
Cigna Corporation (NYSE:CI) opened at $200.60 on Monday. Cigna Corporation has a 1-year low of $131.03 and a 1-year high of $206.45. The company has a market capitalization of $49,457.93, a PE ratio of 19.33, a PEG ratio of 1.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39.
Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47. Cigna had a return on equity of 18.85% and a net margin of 5.74%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. sell-side analysts forecast that Cigna Corporation will post 10.34 earnings per share for the current year.
In other news, CAO Mary T. Hoeltzel sold 575 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $197.03, for a total value of $113,292.25. Following the transaction, the chief accounting officer now owns 2,499 shares in the company, valued at approximately $492,377.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael W. Triplett sold 10,417 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $197.77, for a total value of $2,060,170.09. Following the completion of the transaction, the insider now owns 32,347 shares in the company, valued at approximately $6,397,266.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,471 shares of company stock worth $2,449,891. Company insiders own 1.30% of the company’s stock.
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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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