Capital Investment Advisors LLC Has $261,000 Stock Position in Cigna Co. (NYSE:CI)

Capital Investment Advisors LLC decreased its holdings in shares of Cigna Co. (NYSE:CIGet Rating) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 991 shares of the health services provider’s stock after selling 113 shares during the quarter. Capital Investment Advisors LLC’s holdings in Cigna were worth $261,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Cigna during the 4th quarter worth $747,950,000. Invesco Ltd. boosted its holdings in shares of Cigna by 25.1% during the 1st quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider’s stock worth $764,682,000 after buying an additional 639,645 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Cigna during the 4th quarter worth $96,383,000. Woodline Partners LP bought a new stake in Cigna in the 1st quarter valued at $54,184,000. Finally, Clearbridge Investments LLC bought a new stake in Cigna in the 1st quarter valued at $44,063,000. Institutional investors and hedge funds own 89.54% of the company’s stock.

Insider Buying and Selling at Cigna

In other Cigna news, insider Jason D. Sadler sold 9,505 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $280.00, for a total value of $2,661,400.00. Following the completion of the sale, the insider now owns 32,853 shares in the company, valued at approximately $9,198,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jason D. Sadler sold 9,505 shares of Cigna stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $280.00, for a total transaction of $2,661,400.00. Following the completion of the sale, the insider now owns 32,853 shares in the company, valued at approximately $9,198,840. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric P. Palmer sold 6,521 shares of Cigna stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $275.00, for a total transaction of $1,793,275.00. Following the sale, the chief executive officer now owns 39,978 shares of the company’s stock, valued at approximately $10,993,950. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,158 shares of company stock worth $11,581,956. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CI. Oppenheimer increased their price target on shares of Cigna from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Bank of America raised shares of Cigna from an “underperform” rating to a “neutral” rating and increased their price target for the company from $265.00 to $300.00 in a report on Thursday, May 26th. SVB Leerink increased their price target on shares of Cigna from $276.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, August 10th. Mizuho increased their price target on shares of Cigna from $291.00 to $330.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Morgan Stanley raised their price objective on shares of Cigna from $296.00 to $318.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cigna currently has a consensus rating of “Moderate Buy” and an average price target of $305.58.

Cigna Trading Up 0.1 %

CI opened at $290.35 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $88.59 billion, a PE ratio of 17.31, a PEG ratio of 1.14 and a beta of 0.71. Cigna Co. has a 1-year low of $191.74 and a 1-year high of $296.29. The firm has a 50-day moving average price of $282.42 and a two-hundred day moving average price of $263.91.

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

Cigna Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be given a $1.12 dividend. 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 presently 26.71%.

About Cigna

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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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