Walleye Capital LLC Buys New Shares in Cigna Co. (NYSE:CI)

Walleye Capital LLC bought a new stake in Cigna Co. (NYSE:CIGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,068 shares of the health services provider’s stock, valued at approximately $735,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of Cigna during the fourth quarter valued at about $78,000. Lloyd Advisory Services LLC. acquired a new position in shares of Cigna during the first quarter valued at about $30,000. D.A. Davidson & CO. raised its holdings in shares of Cigna by 2.1% during the first quarter. D.A. Davidson & CO. now owns 16,939 shares of the health services provider’s stock valued at $4,059,000 after purchasing an additional 355 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Cigna by 7.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,503 shares of the health services provider’s stock worth $600,000 after acquiring an additional 173 shares during the last quarter. Finally, First Foundation Advisors raised its holdings in shares of Cigna by 3.6% in the 1st quarter. First Foundation Advisors now owns 2,110 shares of the health services provider’s stock worth $506,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.

Cigna Stock Down 0.4 %

CI opened at $288.08 on Wednesday. The company has a 50 day moving average of $282.61 and a 200 day moving average of $264.43. The company has a market cap of $87.90 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.14 and a beta of 0.71. Cigna Co. has a 12 month low of $191.74 and a 12 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.

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

Cigna Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, September 6th. Cigna’s dividend payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

CI has been the topic of a number of analyst reports. Sanford C. Bernstein upped their target price on shares of Cigna from $258.00 to $301.00 and gave the stock a “mkt perform” rating in a report on Friday, May 27th. Royal Bank of Canada upped their target price on shares of Cigna from $272.00 to $294.00 in a report on Friday, August 5th. Credit Suisse Group upped their target price on shares of Cigna from $315.00 to $329.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Bank of America upgraded shares of Cigna from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $265.00 to $300.00 in a report on Thursday, May 26th. Finally, UBS Group upped their target price on shares of Cigna from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cigna currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.58.

Insiders Place Their Bets

In other Cigna news, insider Michael W. Triplett sold 8,260 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $292.76, for a total value of $2,418,197.60. Following the sale, the insider now directly owns 25,091 shares in the company, valued at approximately $7,345,641.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cigna news, insider Michael W. Triplett sold 8,260 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $292.76, for a total value of $2,418,197.60. Following the sale, the insider now directly owns 25,091 shares in the company, valued at approximately $7,345,641.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason D. Sadler sold 3,458 shares of the firm’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total transaction of $933,660.00. Following the sale, the insider now owns 31,749 shares in the company, valued at approximately $8,572,230. The disclosure for this sale can be found here. Insiders have sold 41,158 shares of company stock worth $11,581,956 in the last three months. 0.80% of the stock is currently owned by corporate insiders.

About Cigna

(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.

Further Reading

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Co. (NYSE:CIGet Rating).

Institutional Ownership by Quarter for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.