CIGNA Co. (CI) Shares Sold by Oakbrook Investments LLC
Oakbrook Investments LLC decreased its stake in CIGNA Co. (NYSE:CI) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,278 shares of the health services provider’s stock after selling 175 shares during the period. Oakbrook Investments LLC’s holdings in CIGNA were worth $1,945,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Dodge & Cox purchased a new stake in shares of CIGNA during the fourth quarter valued at about $1,929,534,000. Price T Rowe Associates Inc. MD raised its stake in shares of CIGNA by 18.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 13,896,503 shares of the health services provider’s stock valued at $1,810,992,000 after buying an additional 2,180,508 shares during the period. State Street Corp raised its stake in shares of CIGNA by 2.9% in the fourth quarter. State Street Corp now owns 10,946,695 shares of the health services provider’s stock valued at $1,460,205,000 after buying an additional 309,795 shares during the period. Glenview Capital Management LLC purchased a new stake in shares of CIGNA during the fourth quarter valued at about $755,266,000. Finally, Sanders Capital LLC raised its stake in shares of CIGNA by 3.5% in the third quarter. Sanders Capital LLC now owns 4,155,167 shares of the health services provider’s stock valued at $551,520,000 after buying an additional 141,579 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.
CIGNA Co. (NYSE:CI) traded down 0.05% on Friday, reaching $155.31. The company’s stock had a trading volume of 385,553 shares. CIGNA Co. has a one year low of $115.03 and a one year high of $156.21. The company has a market capitalization of $39.92 billion, a PE ratio of 21.60 and a beta of 0.53. The firm has a 50-day moving average of $150.78 and a 200-day moving average of $140.19.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, February 2nd. The health services provider reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.13. CIGNA had a net margin of 4.71% and a return on equity of 15.77%. The firm earned $9.94 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the previous year, the firm posted $1.87 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Analysts predict that CIGNA Co. will post $9.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 10th. Investors of record on Friday, March 10th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Wednesday, March 8th. CIGNA’s dividend payout ratio (DPR) is 0.56%.
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CI has been the subject of a number of recent research reports. Deutsche Bank AG initiated coverage on CIGNA in a research note on Wednesday, April 5th. They issued a “buy” rating and a $172.00 target price for the company. Jefferies Group LLC reissued a “buy” rating on shares of CIGNA in a research note on Friday, February 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $151.00 target price on shares of CIGNA in a research note on Friday, February 3rd. Zacks Investment Research lowered CIGNA from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $164.00 target price (up previously from $158.00) on shares of CIGNA in a research note on Monday, February 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $161.93.
In related news, CEO David Cordani sold 43,637 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $147.78, for a total value of $6,448,675.86. Following the completion of the transaction, the chief executive officer now owns 306,194 shares of the company’s stock, valued at $45,249,349.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason D. Sadler sold 4,213 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $152.01, for a total transaction of $640,418.13. Following the completion of the transaction, the insider now directly owns 36,231 shares of the company’s stock, valued at approximately $5,507,474.31. The disclosure for this sale can be found here. Insiders sold 60,623 shares of company stock valued at $8,960,849 in the last three months. 1.20% of the stock is currently owned by insiders.
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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