Alps Advisors Inc. Invests $238,000 in Cigna Co. (NYSE:CI)

Alps Advisors Inc. purchased a new position in Cigna Co. (NYSE:CIGet Rating) in the second quarter, Holdings Channel reports. The fund purchased 903 shares of the health services provider’s stock, valued at approximately $238,000.

A number of other hedge funds have also made changes to their positions in CI. Axiom Financial Strategies LLC acquired a new position in Cigna in the first quarter worth approximately $212,000. Benjamin Edwards Inc. increased its holdings in Cigna by 37.7% in the first quarter. Benjamin Edwards Inc. now owns 190 shares of the health services provider’s stock worth $46,000 after buying an additional 52 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in Cigna in the first quarter worth approximately $567,000. Commonwealth Equity Services LLC increased its holdings in Cigna by 4.0% in the first quarter. Commonwealth Equity Services LLC now owns 73,846 shares of the health services provider’s stock worth $17,694,000 after buying an additional 2,870 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Cigna by 1.9% in the first quarter. Victory Capital Management Inc. now owns 481,049 shares of the health services provider’s stock worth $116,900,000 after buying an additional 9,031 shares during the last quarter. 89.54% of the stock is owned by hedge funds and other institutional investors.

Cigna Stock Up 0.2 %

Shares of CI stock opened at $319.84 on Thursday. The stock has a market cap of $97.79 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. Cigna Co. has a one year low of $191.74 and a one year high of $331.05. The stock has a fifty day moving average price of $300.94 and a 200 day moving average price of $282.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.73 and a quick ratio of 0.73.

Cigna Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Tuesday, December 6th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.40%. Cigna’s payout ratio is presently 21.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada increased their price objective on Cigna from $294.00 to $344.00 and gave the stock a “sector perform” rating in a report on Monday, November 7th. Raymond James downgraded Cigna from a “strong-buy” rating to an “outperform” rating and set a $370.00 price target on the stock. in a report on Monday. Credit Suisse Group increased their price target on Cigna from $329.00 to $368.00 and gave the company an “outperform” rating in a report on Monday, November 7th. Wells Fargo & Company increased their price target on Cigna from $319.00 to $370.00 in a report on Tuesday, November 8th. Finally, SVB Leerink increased their price target on Cigna from $305.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, November 8th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $329.32.

Insider Buying and Selling at Cigna

In other Cigna news, CEO Eric P. Palmer sold 4,000 shares of Cigna stock in a transaction on Friday, October 14th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,838 shares of the company’s stock, valued at $11,051,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Paul A. Sanford sold 373 shares of Cigna stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $300.00, for a total value of $111,900.00. Following the completion of the sale, the executive vice president now directly owns 8,748 shares in the company, valued at $2,624,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric P. Palmer sold 4,000 shares of Cigna stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief executive officer now owns 36,838 shares of the company’s stock, valued at $11,051,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,633 shares of company stock valued at $3,730,098. 0.80% of the stock is currently owned by company insiders.

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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