NorthCoast Asset Management LLC Takes Position in Cigna Corporation (CI)
NorthCoast Asset Management LLC purchased a new stake in shares of Cigna Corporation (NYSE:CI) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 74,466 shares of the health services provider’s stock, valued at approximately $13,921,000.
A number of other hedge funds also recently added to or reduced their stakes in CI. Capstone Investment Advisors Netherlands B.V. acquired a new position in Cigna Corporation during the 2nd quarter valued at about $106,000. Saratoga Research & Investment Management acquired a new position in Cigna Corporation during the 3rd quarter valued at about $112,000. Horan Capital Advisors LLC. acquired a new position in Cigna Corporation during the 3rd quarter valued at about $123,000. Parallel Advisors LLC boosted its stake in Cigna Corporation by 62.3% during 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 during the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in Cigna Corporation by 66.7% during 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 during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
In related news, Director William D. Zollars sold 1,232 shares of Cigna Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total value of $230,667.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael W. Triplett sold 10,417 shares of Cigna Corporation stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $197.77, for a total transaction of $2,060,170.09. Following the completion of the sale, the insider now directly 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 three months, insiders have sold 12,471 shares of company stock worth $2,449,891. Insiders own 1.30% of the company’s stock.
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Cigna Corporation (NYSE:CI) opened at $200.72 on Friday. Cigna Corporation has a 1 year low of $131.03 and a 1 year high of $206.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $49,487.46, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.49.
Cigna Corporation (NYSE:CI) last posted its earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.47. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The firm had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.17 billion. During the same quarter last year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts forecast that Cigna Corporation will post 10.34 earnings per share for the current year.
A number of research firms have issued reports on CI. Royal Bank Of Canada reiterated a “buy” rating and set a $185.00 price target on shares of Cigna Corporation in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Deutsche Bank AG lifted their price target on Cigna Corporation from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Citigroup Inc. lifted their price target on Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $190.00 price target (down previously from $199.00) on shares of Cigna Corporation in a research note on Friday, August 4th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $201.50.
Cigna Corporation Company Profile
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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