Mackay Shields LLC Sells 10,548 Shares of Cigna Corp (CI)
Mackay Shields LLC lowered its stake in shares of Cigna Corp (NYSE:CI) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,079 shares of the health services provider’s stock after selling 10,548 shares during the quarter. Mackay Shields LLC’s holdings in Cigna were worth $26,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CI. Oregon Public Employees Retirement Fund boosted its position in Cigna by 42,687.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock valued at $167,000 after purchasing an additional 31,678,514 shares in the last quarter. BlackRock Inc. boosted its position in Cigna by 59.4% during the fourth quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock valued at $5,107,369,000 after purchasing an additional 10,021,719 shares in the last quarter. Capital World Investors boosted its position in Cigna by 172.7% during the third quarter. Capital World Investors now owns 5,464,526 shares of the health services provider’s stock valued at $1,137,988,000 after purchasing an additional 3,460,726 shares in the last quarter. Capital Research Global Investors bought a new stake in Cigna during the third quarter valued at about $682,210,000. Finally, Northern Trust Corp boosted its position in Cigna by 83.3% during the fourth quarter. Northern Trust Corp now owns 5,521,678 shares of the health services provider’s stock valued at $1,048,677,000 after purchasing an additional 2,510,012 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on CI. Zacks Investment Research raised Cigna from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a research report on Friday, January 4th. ValuEngine upgraded Cigna from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Credit Suisse Group reiterated a “buy” rating and issued a $250.00 price target on shares of Cigna in a research note on Monday, January 7th. Leerink Swann increased their price target on Cigna from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, November 19th. Finally, Edward Jones assumed coverage on Cigna in a research note on Monday, December 24th. They issued a “buy” rating and a $181.30 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. Cigna currently has a consensus rating of “Buy” and a consensus price target of $231.28.
Shares of NYSE:CI opened at $166.45 on Friday. Cigna Corp has a 52-week low of $162.42 and a 52-week high of $226.60. The stock has a market capitalization of $63.26 billion, a PE ratio of 11.71, a PEG ratio of 0.81 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.42.
Cigna (NYSE:CI) last announced its quarterly earnings data on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.53 by ($0.07). Cigna had a return on equity of 16.64% and a net margin of 5.42%. The firm had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $11.38 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. As a group, equities analysts predict that Cigna Corp will post 16.41 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Monday, March 11th will be paid a $0.04 dividend. The ex-dividend date is Friday, March 8th. Cigna’s payout ratio is 0.28%.
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Cigna Company Profile
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.
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