Hartford Financial Management Inc. raised its position in Cigna Co. (NYSE:CI) by 184.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,608 shares of the health services provider’s stock after acquiring an additional 2,990 shares during the period. Hartford Financial Management Inc.’s holdings in Cigna were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CI. Norges Bank acquired a new stake in shares of Cigna during the fourth quarter worth $800,023,000. Sanders Capital LLC lifted its stake in shares of Cigna by 14.9% during the fourth quarter. Sanders Capital LLC now owns 6,739,333 shares of the health services provider’s stock worth $1,513,628,000 after buying an additional 873,228 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Cigna by 20.7% during the fourth quarter. Nuveen Asset Management LLC now owns 4,320,714 shares of the health services provider’s stock worth $899,486,000 after buying an additional 739,993 shares during the period. Dodge & Cox lifted its stake in shares of Cigna by 3.8% during the fourth quarter. Dodge & Cox now owns 16,166,923 shares of the health services provider’s stock worth $3,365,630,000 after buying an additional 588,589 shares during the period. Finally, Viking Global Investors LP lifted its stake in shares of Cigna by 35.1% during the fourth quarter. Viking Global Investors LP now owns 1,953,869 shares of the health services provider’s stock worth $406,756,000 after buying an additional 507,438 shares during the period. Institutional investors own 87.05% of the company’s stock.
Several research firms have recently commented on CI. Zacks Investment Research downgraded shares of Cigna from a “hold” rating to a “sell” rating and set a $242.00 price objective for the company. in a research note on Monday, March 8th. Citigroup reissued a “buy” rating and set a $273.00 target price on shares of Cigna in a report on Friday, February 5th. Truist Securities raised their target price on shares of Cigna from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets raised their target price on shares of Cigna from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, March 9th. Finally, Morgan Stanley reduced their target price on shares of Cigna from $258.00 to $254.00 and set an “overweight” rating for the company in a report on Monday, February 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $260.65.
Shares of CI stock traded up $4.92 on Friday, reaching $254.36. 1,670,029 shares of the company were exchanged, compared to its average volume of 1,895,512. The company has a market cap of $88.36 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 0.95 and a beta of 0.88. The business has a 50-day moving average price of $236.89 and a 200 day moving average price of $210.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.68. Cigna Co. has a 1 year low of $158.84 and a 1 year high of $255.89.
Cigna (NYSE:CI) last released its earnings results on Wednesday, February 3rd. The health services provider reported $3.51 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.17). The company had revenue of $41.71 billion for the quarter, compared to analysts’ expectations of $40.05 billion. Cigna had a return on equity of 15.39% and a net margin of 3.38%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.31 EPS. As a group, equities analysts anticipate that Cigna Co. will post 18.55 earnings per share for the current year.
Cigna Company Profile
Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care, and intelligence solutions to health plans, employers, government organizations, and health care providers.
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