Heritage Investors Management Corp lifted its holdings in shares of Cigna Co. (NYSE:CI – Get Rating) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,964 shares of the health services provider’s stock after buying an additional 784 shares during the period. Heritage Investors Management Corp’s holdings in Cigna were worth $3,666,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CI. Nordea Investment Management AB lifted its holdings in Cigna by 105.3% in the third quarter. Nordea Investment Management AB now owns 9,271,781 shares of the health services provider’s stock valued at $1,907,854,000 after acquiring an additional 4,755,382 shares during the period. Davis Selected Advisers lifted its holdings in Cigna by 187.0% in the third quarter. Davis Selected Advisers now owns 3,342,960 shares of the health services provider’s stock valued at $669,127,000 after acquiring an additional 2,178,225 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Cigna by 156.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,749,563 shares of the health services provider’s stock valued at $350,193,000 after acquiring an additional 1,066,059 shares during the period. Boston Partners lifted its holdings in Cigna by 26.8% in the third quarter. Boston Partners now owns 3,939,658 shares of the health services provider’s stock valued at $788,769,000 after acquiring an additional 832,024 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Cigna by 2.7% in the third quarter. BlackRock Inc. now owns 29,524,859 shares of the health services provider’s stock worth $5,909,697,000 after buying an additional 786,502 shares during the period. 86.39% of the stock is currently owned by institutional investors.
Shares of NYSE CI opened at $246.25 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $233.59 and a two-hundred day simple moving average of $222.02. The firm has a market cap of $78.40 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.86. Cigna Co. has a twelve month low of $191.74 and a twelve month high of $272.81.
Cigna (NYSE:CI – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The health services provider reported $4.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.68 by $0.09. The firm had revenue of $45.69 billion during the quarter, compared to analyst estimates of $43.98 billion. Cigna had a return on equity of 14.59% and a net margin of 3.08%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.51 EPS. On average, research analysts expect that Cigna Co. will post 22.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Wednesday, March 9th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.82%. This is a positive change from Cigna’s previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, March 8th. Cigna’s payout ratio is presently 28.46%.
Several research analysts have recently commented on the company. Royal Bank of Canada downgraded Cigna from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $304.00 to $235.00 in a research note on Monday, February 7th. Truist Financial lifted their target price on Cigna from $270.00 to $275.00 in a research note on Wednesday, January 5th. Sanford C. Bernstein lifted their target price on Cigna from $234.00 to $258.00 in a research note on Tuesday, January 11th. SVB Leerink lifted their target price on Cigna from $224.00 to $245.00 and gave the company a “market perform” rating in a research note on Tuesday, February 22nd. Finally, StockNews.com initiated coverage on Cigna in a research note on Thursday. They set a “strong-buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $257.26.
In related news, EVP Everett Neville sold 289 shares of the business’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $239.00, for a total transaction of $69,071.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 10,069 shares of the business’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $228.70, for a total value of $2,302,780.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,601 shares of company stock valued at $3,576,695. Corporate insiders own 0.80% of the company’s stock.
Cigna Company Profile (Get Rating)
Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health 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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