Fisher Asset Management LLC bought a new stake in shares of Cigna Co. (NYSE: CI – Get Rating) in the first quarter, according to the company in its latest 13F filing with the SEC. The fund bought 947 shares of the healthcare provider, valued at around $227,000.
Other hedge funds and other institutional investors also bought and sold shares of the company. Chicago Partners Investment Group LLC increased its stake in Cigna by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,593 shares of the healthcare provider worth $809,000 after buying 44 more shares last quarter. Financial Management Professionals Inc. increased its stake in Cigna by 6.9% in Q1. Financial Management Professionals Inc. now owns 684 shares of the healthcare provider worth $164,000 after buying 44 more shares last quarter. Venture Visionary Partners LLC increased its stake in Cigna by 1.6% in Q1. Venture Visionary Partners LLC now owns 2,887 shares of the healthcare provider worth $691,000 after buying 45 additional shares last quarter. Harbor Investment Advisory LLC increased its stake in Cigna by 2.7% in Q1. Harbor Investment Advisory LLC now owns 1,756 shares of the healthcare provider worth $421,000 after buying 46 more shares last quarter. Finally, Convergence Investment Partners LLC increased its stake in Cigna by 3.0% in the 1st quarter. Convergence Investment Partners LLC now owns 1,560 shares of the healthcare provider worth $374,000 after buying 46 additional shares last quarter. Institutional investors hold 88.57% of the company’s shares.
A Wall Street analyst gives his opinion
Several research companies have recently commented on CI. Jefferies Financial Group reiterated a “hold” rating and issued a price target of $271.00 (vs. $330.00) on Cigna shares in a Thursday, July 14 report. Deutsche Bank Aktiengesellschaft raised its price target on Cigna from $236.00 to $284.00 in a Thursday, June 9 research note. Cowen upgraded Cigna from a “market performer” rating to an “outperformer” rating and raised its price target for the company from $242.00 to $329.00 in a Monday 9 research note. may. Loop Capital began covering Cigna in a research note on Thursday, June 16. They set a “holding” rating and a price target of $270.00 for the company. Finally, Raymond James raised his price target on Cigna from $275.00 to $300.00 in a Tuesday, May 10 research note. Seven research analysts gave the stock a hold rating, sixteen gave the stock a buy rating and two gave the stock a strong buy rating. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $293.79.
Cigna stock up 0.6%
NYSE CI opened at $281.77 on Friday. The stock’s 50-day moving average is $265.57 and its 200-day moving average is $251.69. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt ratio of 0.67. Cigna Co. has a 12-month low of $191.74 and a 12-month high of $284.46. The stock has a market capitalization of $89.40 billion, a PE ratio of 16.80, a P/E/G ratio of 1.10 and a beta of 0.73.
Cigna (NYSE:CI – Get Rating) last released its quarterly earnings data on Thursday, August 4. The healthcare service provider reported earnings per share (EPS) of $6.22 for the quarter, beating the consensus estimate of $5.62 by $0.60. The company posted revenue of $45.48 billion for the quarter, versus $44.34 billion expected by analysts. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company’s revenue for the quarter increased 5.4% year over year. During the same period of the previous year, the company achieved EPS of $5.24. Research analysts predict that Cigna Co. will post EPS of 22.9 for the current fiscal year.
Cigna Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22. Shareholders of record on Wednesday, September 7 will receive a dividend of $1.12 per share. The ex-dividend date is Tuesday, September 6. This represents an annualized dividend of $4.48 and a dividend yield of 1.59%. Cigna’s dividend payout ratio (DPR) is 26.71%.
Insider trading at Cigna
Separately, Executive Vice President Everett Neville sold 902 shares of the company in a transaction that took place on Monday, August 1. The stock was sold at an average price of $273.98, for a total transaction of $247,129.96. Following the sale, the executive vice president now directly owns 6,764 shares of the company, valued at approximately $1,853,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Separately, Executive Vice President Everett Neville sold 902 shares of the company in a transaction that took place on Monday, August 1. The stock was sold at an average price of $273.98, for a total transaction of $247,129.96. Following the transaction, the executive vice president now owns 6,764 shares of the company, valued at approximately $1,853,200.72. The transaction was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, CEO David Cordani sold 45,261 shares of the company in a trade that took place on Tuesday, May 17. The shares were sold at an average price of $270.42, for a total value of $12,239,479.62. As a result of the transaction, the CEO now directly owns 160,499 shares of the company, valued at approximately $43,402,139.58. The disclosure of this sale can be found here. Insiders sold 76,642 shares of the company valued at $20,869,065 in the past ninety days. Company insiders own 0.80% of the company’s shares.
Cigna Company Profile
(Get a rating)
Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and timely healthcare services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations and health care providers.
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