Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $7.86 Million Holdings in CIGNA Co. (CI)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in CIGNA Co. (NYSE:CI) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,140 shares of the health services provider’s stock after selling 283 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in CIGNA were worth $7,855,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Saratoga Research & Investment Management acquired a new position in shares of CIGNA during the 3rd quarter worth approximately $112,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of CIGNA during the 4th quarter worth approximately $122,000. Horan Capital Advisors LLC. acquired a new position in shares of CIGNA during the 3rd quarter worth approximately $123,000. Cerebellum GP LLC acquired a new position in shares of CIGNA during the 4th quarter worth approximately $127,000. Finally, Grove Bank & Trust raised its stake in shares of CIGNA by 171.9% during the 3rd quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock worth $182,000 after buying an additional 617 shares during the period. 88.04% of the stock is owned by institutional investors.
CI has been the subject of several research analyst reports. Jefferies Group upped their target price on CIGNA from $201.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. BMO Capital Markets initiated coverage on CIGNA in a research note on Monday, October 16th. They set a “market perform” rating and a $210.00 target price for the company. Credit Suisse Group initiated coverage on CIGNA in a research note on Thursday, November 2nd. They set an “outperform” rating and a $219.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 target price (up from $185.00) on shares of CIGNA in a research note on Friday, November 3rd. Finally, Morgan Stanley upped their target price on CIGNA from $195.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $210.12.
CIGNA (NYSE:CI) last issued its earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.07. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.87 EPS. equities research analysts anticipate that CIGNA Co. will post 12.9 earnings per share for the current year.
In other CIGNA news, insider Michael W. Triplett sold 10,417 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $197.77, for a total value of $2,060,170.09. Following the completion of the sale, the insider now directly owns 32,347 shares in the company, valued at approximately $6,397,266.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mary T. Hoeltzel sold 575 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $197.03, for a total value of $113,292.25. Following the completion of the sale, the chief accounting officer now owns 2,499 shares of the company’s stock, valued at $492,377.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,655 shares of company stock valued at $15,503,365. 1.30% of the stock is owned by company insiders.
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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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