Financial Insights Inc. Acquires Shares of 130 Cigna Co. (NYSE:CI)

Financial Insights Inc. acquired a new stake in Cigna Co. (NYSE:CI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 130 shares of the health services provider’s stock, valued at approximately $31,000.

Other institutional investors also recently added to or reduced their stakes in the company. M&G Investment Management Ltd. increased its stake in shares of Cigna by 30.8% during the 1st quarter. M&G Investment Management Ltd. now owns 25,859 shares of the health services provider’s stock worth $6,258,000 after purchasing an additional 6,084 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Cigna by 8.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 180,100 shares of the health services provider’s stock worth $42,696,000 after purchasing an additional 14,162 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Cigna by 8.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,156,883 shares of the health services provider’s stock worth $274,262,000 after purchasing an additional 87,137 shares during the last quarter. FIL Ltd boosted its holdings in shares of Cigna by 77.9% during the 1st quarter. FIL Ltd now owns 1,188,694 shares of the health services provider’s stock worth $287,355,000 after buying an additional 520,573 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Cigna by 26.8% during the 1st quarter. Captrust Financial Advisors now owns 18,950 shares of the health services provider’s stock worth $4,581,000 after buying an additional 4,001 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

In other Cigna news, Director Donna F. Zarcone bought 500 shares of Cigna stock in a transaction dated Tuesday, August 10th. The shares were bought at an average price of $209.89 per share, with a total value of $104,945.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elder Granger sold 4,844 shares of the firm’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $237.06, for a total transaction of $1,148,318.64. Following the completion of the transaction, the director now directly owns 7,106 shares in the company, valued at approximately $1,684,548.36. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Several analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Cigna in a report on Monday, May 24th. They set an “equal weight” rating and a $284.00 price objective for the company. Zacks Investment Research downgraded shares of Cigna from a “hold” rating to a “sell” rating and set a $215.00 price target for the company. in a report on Monday, September 13th. Truist reduced their price target on shares of Cigna from $320.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 6th. Credit Suisse Group reduced their price target on shares of Cigna from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, August 6th. Finally, Truist Securities reduced their price target on shares of Cigna from $320.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $266.20.

Shares of Cigna stock traded down $4.31 during mid-day trading on Monday, reaching $201.31. 32,841 shares of the stock were exchanged, compared to its average volume of 1,884,345. The company has a market cap of $68.47 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 0.91 and a beta of 0.88. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $217.84 and a 200 day simple moving average of $236.52. Cigna Co. has a fifty-two week low of $158.84 and a fifty-two week high of $272.81.

Cigna (NYSE:CI) last announced its earnings results on Thursday, August 5th. The health services provider reported $5.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.96 by $0.28. The business had revenue of $43.13 billion during the quarter, compared to analysts’ expectations of $41.17 billion. Cigna had a net margin of 4.89% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $5.81 EPS. On average, research analysts predict that Cigna Co. will post 20.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Wednesday, September 8th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, September 7th. Cigna’s payout ratio is presently 21.68%.

Cigna Profile

Cigna Corp. engages in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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