Carnick & Kubik Group LLC Acquires 692 Shares of CIGNA Co. (CI)
Carnick & Kubik Group LLC boosted its holdings in CIGNA Co. (NYSE:CI) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,697 shares of the health services provider’s stock after purchasing an additional 692 shares during the period. Carnick & Kubik Group LLC’s holdings in CIGNA were worth $1,563,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Saratoga Research & Investment Management bought a new position in shares of CIGNA during the third quarter valued at about $112,000. Stuart Chaussee & Associates Inc. bought a new position in shares of CIGNA during the fourth quarter valued at about $122,000. Horan Capital Advisors LLC. bought a new position in shares of CIGNA during the third quarter valued at about $123,000. Cerebellum GP LLC bought a new position in shares of CIGNA during the fourth quarter valued at about $127,000. Finally, Grove Bank & Trust raised its stake in shares of CIGNA by 171.9% during the third quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after acquiring an additional 617 shares during the last quarter. 88.60% of the stock is owned by institutional investors and hedge funds.
In other news, EVP John M. Murabito sold 6,099 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $220.10, for a total transaction of $1,342,389.90. Following the sale, the executive vice president now owns 68,026 shares in the company, valued at $14,972,522.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William D. Zollars sold 212 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total transaction of $43,604.16. Following the sale, the director now owns 13,500 shares in the company, valued at approximately $2,776,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,663 shares of company stock worth $13,329,903. Corporate insiders own 1.30% of the company’s stock.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.07. CIGNA had a net margin of 5.38% and a return on equity of 18.84%. The firm had revenue of $10.53 billion for the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts forecast that CIGNA Co. will post 12.9 EPS for the current year.
CI has been the subject of several recent analyst reports. Jefferies Group upped their price objective on shares of CIGNA from $221.00 to $231.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of CIGNA from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Morgan Stanley upped their price objective on shares of CIGNA to $255.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. ValuEngine raised shares of CIGNA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Citigroup increased their price target on shares of CIGNA from $198.00 to $231.00 and gave the stock a “buy” 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 given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $210.12.
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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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