Advisory Services Network LLC Has $1.75 Million Position in Cigna Co. (NYSE:CI)

Advisory Services Network LLC lowered its stake in shares of Cigna Co. (NYSE:CIGet Rating) by 3.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,281 shares of the health services provider’s stock after selling 238 shares during the period. Advisory Services Network LLC’s holdings in Cigna were worth $1,745,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Chicago Partners Investment Group LLC raised its stake in shares of Cigna by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,593 shares of the health services provider’s stock worth $809,000 after acquiring an additional 44 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of Cigna by 6.9% in the first quarter. Financial Management Professionals Inc. now owns 684 shares of the health services provider’s stock worth $164,000 after acquiring an additional 44 shares during the last quarter. Venture Visionary Partners LLC raised its stake in shares of Cigna by 1.6% during the first quarter. Venture Visionary Partners LLC now owns 2,887 shares of the health services provider’s stock worth $691,000 after buying an additional 45 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Cigna by 2.7% during the first quarter. Harbor Investment Advisory LLC now owns 1,756 shares of the health services provider’s stock worth $421,000 after buying an additional 46 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its stake in shares of Cigna by 3.0% during the first quarter. Convergence Investment Partners LLC now owns 1,560 shares of the health services provider’s stock worth $374,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price target on shares of Cigna from $258.00 to $301.00 and gave the stock a “mkt perform” rating in a research note on Friday, May 27th. UBS Group boosted their price target on shares of Cigna from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Royal Bank of Canada boosted their price target on shares of Cigna from $272.00 to $294.00 in a research note on Friday, August 5th. Loop Capital started coverage on shares of Cigna in a research note on Thursday, June 16th. They issued a “hold” rating and a $270.00 target price for the company. Finally, Credit Suisse Group upped their target price on shares of Cigna from $315.00 to $329.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $305.58.

Insider Buying and Selling

In other Cigna news, insider Jason D. Sadler sold 3,458 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total value of $933,660.00. Following the completion of the sale, the insider now owns 31,749 shares in the company, valued at $8,572,230. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cigna news, insider Jason D. Sadler sold 3,458 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total value of $933,660.00. Following the completion of the sale, the insider now owns 31,749 shares in the company, valued at $8,572,230. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Everett Neville sold 902 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $273.98, for a total transaction of $247,129.96. Following the completion of the sale, the executive vice president now owns 6,764 shares of the company’s stock, valued at approximately $1,853,200.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,158 shares of company stock worth $11,581,956. 0.80% of the stock is owned by insiders.

Cigna Stock Performance

Shares of CI opened at $290.35 on Monday. Cigna Co. has a 12 month low of $191.74 and a 12 month high of $296.29. The firm has a fifty day simple moving average of $282.42 and a 200 day simple moving average of $263.91. The stock has a market capitalization of $88.59 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.14 and a beta of 0.71. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67.

Cigna (NYSE:CIGet Rating) last announced its earnings results on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, topping the consensus estimate of $5.62 by $0.60. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The business had revenue of $45.48 billion during the quarter, compared to analysts’ expectations of $44.34 billion. During the same quarter in the prior year, the company posted $5.24 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Cigna Co. will post 22.9 EPS for the current fiscal year.

Cigna Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.54%. The ex-dividend date is Tuesday, September 6th. Cigna’s payout ratio is 26.71%.

Cigna Company Profile

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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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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