Oakbrook Investments LLC Has $3.20 Million Position in CIGNA Co. (CI)
Oakbrook Investments LLC cut its holdings in CIGNA Co. (NYSE:CI) by 19.2% during the 4th quarter, HoldingsChannel reports. The fund owned 15,753 shares of the health services provider’s stock after selling 3,750 shares during the period. Oakbrook Investments LLC’s holdings in CIGNA were worth $3,199,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Veritable L.P. lifted its holdings in shares of CIGNA by 0.5% during the 2nd quarter. Veritable L.P. now owns 8,220 shares of the health services provider’s stock valued at $1,376,000 after buying an additional 41 shares during the period. MML Investors Services LLC lifted its holdings in shares of CIGNA by 0.8% during the 2nd quarter. MML Investors Services LLC now owns 5,774 shares of the health services provider’s stock valued at $967,000 after buying an additional 43 shares during the period. Argent Capital Management LLC raised its holdings in CIGNA by 2.0% in the 2nd quarter. Argent Capital Management LLC now owns 2,613 shares of the health services provider’s stock worth $437,000 after purchasing an additional 50 shares during the period. Eqis Capital Management Inc. raised its holdings in CIGNA by 3.1% in the 3rd quarter. Eqis Capital Management Inc. now owns 8,949 shares of the health services provider’s stock worth $1,673,000 after purchasing an additional 267 shares during the period. Finally, Comerica Bank raised its holdings in CIGNA by 0.4% in the 3rd quarter. Comerica Bank now owns 62,611 shares of the health services provider’s stock worth $12,379,000 after purchasing an additional 274 shares during the period. 87.75% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on CI shares. Jefferies Group raised their target price on CIGNA from $221.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research cut CIGNA from a “buy” rating to a “hold” rating in a report on Friday, November 10th. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BMO Capital Markets started coverage on CIGNA in a report on Monday, October 16th. They issued a “market perform” rating and a $210.00 target price on the stock. Finally, Citigroup raised their target price on CIGNA from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. CIGNA currently has an average rating of “Buy” and an average target price of $205.18.
CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.47. CIGNA had a return on equity of 18.85% and a net margin of 5.74%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. During the same quarter in the prior year, the business posted $1.94 EPS. CIGNA’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities analysts anticipate that CIGNA Co. will post 10.34 earnings per share for the current fiscal year.
In other news, Director Donna F. Zarcone sold 5,971 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $215.43, for a total transaction of $1,286,332.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alan Muney sold 15,345 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $200.80, for a total value of $3,081,276.00. Following the transaction, the executive vice president now owns 28,457 shares of the company’s stock, valued at approximately $5,714,165.60. The disclosure for this sale can be found here. Insiders sold a total of 69,556 shares of company stock valued at $14,160,975 in the last quarter. 1.30% of the stock is currently owned by company 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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