Psagot Investment House Ltd. Invests $2.24 Million in Cigna Corp (CI) Stock
Psagot Investment House Ltd. purchased a new position in Cigna Corp (NYSE:CI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,776 shares of the health services provider’s stock, valued at approximately $2,236,000.
A number of other institutional investors have also modified their holdings of the business. Kresge Foundation purchased a new position in Cigna in the 4th quarter worth about $12,094,000. Advisory Services Network LLC increased its stake in Cigna by 45.2% in the 4th quarter. Advisory Services Network LLC now owns 5,531 shares of the health services provider’s stock worth $1,050,000 after purchasing an additional 1,723 shares in the last quarter. Amalgamated Bank increased its stake in Cigna by 50.5% in the 4th quarter. Amalgamated Bank now owns 48,473 shares of the health services provider’s stock worth $9,206,000 after purchasing an additional 16,264 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Cigna by 74.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 278,072 shares of the health services provider’s stock worth $52,811,000 after purchasing an additional 119,095 shares in the last quarter. Finally, Clarfeld Financial Advisors LLC purchased a new position in Cigna in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.
Shares of CI traded down $0.06 on Thursday, reaching $159.73. 7,915 shares of the stock traded hands, compared to its average volume of 2,885,854. The stock has a market cap of $60.73 billion, a PE ratio of 11.27, a P/E/G ratio of 0.79 and a beta of 0.73. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.96. Cigna Corp has a 12 month low of $158.58 and a 12 month high of $226.60.
The business also recently declared a special dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th will be given a $0.04 dividend. The ex-dividend date is Friday, March 8th. Cigna’s dividend payout ratio (DPR) is 0.28%.
Several equities analysts have weighed in on the company. ValuEngine cut Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research cut Cigna from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Morgan Stanley lowered their target price on Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 5th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research note on Saturday, February 2nd. Finally, Stephens assumed coverage on Cigna in a research note on Monday, January 14th. They set an “overweight” rating and a $251.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $231.28.
In other news, insider Brian C. Evanko purchased 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of $163.40 per share, with a total value of $326,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael W. Triplett sold 9,148 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $181.01, for a total value of $1,655,879.48. The disclosure for this sale can be found here. Insiders sold 10,420 shares of company stock worth $1,886,122 over the last quarter. Company insiders own 0.80% of the company’s stock.
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Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
Further Reading: Why do companies pay special dividends?
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