Neuberger Berman Group LLC raised its holdings in Cigna Co. (NYSE:CI) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,235,921 shares of the health services provider’s stock after buying an additional 90,846 shares during the period. Neuberger Berman Group LLC’s holdings in Cigna were worth $247,100,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Kings Point Capital Management lifted its position in shares of Cigna by 19.0% during the 3rd quarter. Kings Point Capital Management now owns 295 shares of the health services provider’s stock worth $59,000 after purchasing an additional 47 shares during the last quarter. Boston Common Asset Management LLC raised its stake in Cigna by 4.6% during the 2nd quarter. Boston Common Asset Management LLC now owns 1,132 shares of the health services provider’s stock worth $268,000 after acquiring an additional 50 shares in the last quarter. Adviser Investments LLC raised its stake in Cigna by 2.8% during the 3rd quarter. Adviser Investments LLC now owns 1,818 shares of the health services provider’s stock worth $364,000 after acquiring an additional 50 shares in the last quarter. Sargent Bickham Lagudis LLC raised its stake in Cigna by 4.9% during the 3rd quarter. Sargent Bickham Lagudis LLC now owns 1,189 shares of the health services provider’s stock worth $238,000 after acquiring an additional 55 shares in the last quarter. Finally, Canandaigua National Corp raised its stake in Cigna by 0.4% during the 3rd quarter. Canandaigua National Corp now owns 13,229 shares of the health services provider’s stock worth $2,648,000 after acquiring an additional 56 shares in the last quarter. 86.34% of the stock is owned by institutional investors and hedge funds.
In other Cigna news, EVP Everett Neville sold 175 shares of the company’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $240.00, for a total value of $42,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by corporate insiders.
CI has been the topic of several research analyst reports. Wells Fargo & Company upgraded shares of Cigna from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $236.00 to $278.00 in a research note on Thursday, January 6th. Seaport Global Securities initiated coverage on shares of Cigna in a research note on Wednesday, November 17th. They issued a “buy” rating and a $270.00 price objective on the stock. Morgan Stanley lowered shares of Cigna from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $255.00 to $238.00 in a research note on Thursday, December 16th. Credit Suisse Group lifted their price objective on shares of Cigna from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Finally, Seaport Res Ptn restated a “buy” rating on shares of Cigna in a research note on Wednesday, November 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $258.52.
CI stock opened at $221.37 on Friday. The company has a market cap of $73.37 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.89 and a beta of 0.88. Cigna Co. has a 52 week low of $191.74 and a 52 week high of $272.81. The company’s 50-day moving average price is $224.63 and its 200 day moving average price is $216.58. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.66.
Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, February 3rd. The health services provider reported $4.77 EPS for the quarter, topping analysts’ consensus estimates of $4.71 by $0.06. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $43.98 billion. Cigna had a net margin of 3.08% and a return on equity of 14.59%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.51 earnings per share. On average, equities research analysts expect that Cigna Co. will post 22.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 24th. Shareholders of record on Wednesday, March 9th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, March 8th. This is an increase from Cigna’s previous quarterly dividend of $1.00. Cigna’s dividend payout ratio is 25.41%.
Cigna Company 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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