Red Spruce Capital LLC acquired a new stake in Cigna Corp (NYSE:CI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,838 shares of the health services provider’s stock, valued at approximately $1,807,000. Cigna accounts for approximately 1.5% of Red Spruce Capital LLC’s holdings, making the stock its 22nd biggest holding.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its stake in Cigna by 1,351.4% in the second quarter. Nuveen Asset Management LLC now owns 2,334,509 shares of the health services provider’s stock valued at $367,802,000 after buying an additional 2,173,662 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Cigna by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,933,051 shares of the health services provider’s stock valued at $1,659,527,000 after purchasing an additional 714,957 shares during the period. Focused Investors LLC bought a new stake in shares of Cigna during the third quarter valued at approximately $72,449,000. Owl Creek Asset Management L.P. bought a new stake in shares of Cigna during the third quarter valued at approximately $63,720,000. Finally, Macquarie Group Ltd. increased its position in shares of Cigna by 7.1% during the second quarter. Macquarie Group Ltd. now owns 4,712,181 shares of the health services provider’s stock valued at $742,443,000 after purchasing an additional 313,392 shares during the period. 87.46% of the stock is currently owned by institutional investors.
In related news, insider Timothy C. Wentworth sold 12,436 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $199.15, for a total transaction of $2,476,629.40. Following the completion of the transaction, the insider now directly owns 108,214 shares of the company’s stock, valued at $21,550,818.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Partridge sold 3,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $203.70, for a total value of $672,210.00. Following the transaction, the director now directly owns 29,180 shares of the company’s stock, valued at $5,943,966. The disclosure for this sale can be found here. Insiders have sold 22,692 shares of company stock valued at $4,544,074 over the last ninety days. 0.80% of the stock is owned by insiders.
Cigna stock opened at $208.23 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $76.62 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.94 and a beta of 0.75. The business’s fifty day moving average is $201.34 and its two-hundred day moving average is $175.75. Cigna Corp has a 52 week low of $141.95 and a 52 week high of $212.35.
Cigna (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $4.54 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.17. Cigna had a return on equity of 12.79% and a net margin of 3.30%. The company had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $34.20 billion. During the same quarter in the previous year, the company posted $3.84 earnings per share. The firm’s quarterly revenue was up 213.1% on a year-over-year basis. On average, equities research analysts predict that Cigna Corp will post 16.94 earnings per share for the current year.
CI has been the topic of a number of research reports. Wells Fargo & Co cut Cigna from a “market perform” rating to an “underperform” rating and set a $181.00 price objective on the stock. in a research report on Wednesday, December 11th. Citigroup restated a “buy” rating and set a $221.00 price objective (up from $203.00) on shares of Cigna in a research report on Tuesday, November 5th. Cowen restated a “buy” rating and set a $250.00 price objective on shares of Cigna in a research report on Monday, December 23rd. Stephens boosted their price objective on Cigna from $242.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Finally, BMO Capital Markets upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $217.75.
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.
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