Brookstone Capital Management Boosts Stock Position in Cigna Co. (NYSE:CI)

Brookstone Capital Management raised its position in Cigna Co. (NYSE:CIGet Rating) by 212.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,211 shares of the health services provider’s stock after purchasing an additional 4,902 shares during the period. Brookstone Capital Management’s holdings in Cigna were worth $2,013,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CI. Country Trust Bank lifted its stake in shares of Cigna by 116.7% during the first quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock valued at $25,000 after buying an additional 56 shares during the period. Wagner Wealth Management LLC raised its holdings in Cigna by 144.4% in the 4th quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Exane Derivatives lifted its stake in shares of Cigna by 6,200.0% during the 1st quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock worth $30,000 after purchasing an additional 124 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in shares of Cigna in the first quarter valued at $30,000. Finally, Vectors Research Management LLC acquired a new position in Cigna in the fourth quarter valued at $31,000. 89.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cigna

In other news, EVP Paul A. Sanford sold 374 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $285.00, for a total value of $106,590.00. Following the completion of the sale, the executive vice president now owns 9,121 shares of the company’s stock, valued at approximately $2,599,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jason D. Sadler sold 9,505 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $280.00, for a total value of $2,661,400.00. Following the sale, the insider now owns 32,853 shares of the company’s stock, valued at approximately $9,198,840. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul A. Sanford sold 374 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $285.00, for a total value of $106,590.00. Following the transaction, the executive vice president now owns 9,121 shares of the company’s stock, valued at $2,599,485. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,158 shares of company stock valued at $11,581,956. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on CI shares. Sanford C. Bernstein lifted their price target on Cigna from $258.00 to $301.00 and gave the company a “mkt perform” rating in a report on Friday, May 27th. Truist Financial upped their price target on shares of Cigna from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. SVB Leerink lifted 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. The Goldman Sachs Group upped their price objective on Cigna from $273.00 to $311.00 and gave the stock a “neutral” rating in a report on Tuesday, August 9th. Finally, Loop Capital began coverage on Cigna in a report on Thursday, June 16th. They issued a “hold” rating and a $270.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $305.58.

Cigna Price Performance

CI opened at $288.08 on Wednesday. Cigna Co. has a twelve month low of $191.74 and a twelve month high of $296.29. 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 firm has a market cap of $87.90 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.14 and a beta of 0.71. The company has a fifty day simple moving average of $282.61 and a 200 day simple moving average of $264.43.

Cigna (NYSE:CIGet Rating) last announced its earnings results 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. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company had revenue of $45.48 billion during the quarter, compared to the consensus estimate of $44.34 billion. During the same period last year, the firm earned $5.24 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Cigna Co. will post 22.9 EPS for the current fiscal year.

Cigna Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, September 6th. Cigna’s dividend payout ratio (DPR) is currently 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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