M&G Investment Management Ltd. Has $6.26 Million Stock Position in Cigna Co. (NYSE:CI)

M&G Investment Management Ltd. boosted its stake in shares of Cigna Co. (NYSE:CI) by 30.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,859 shares of the health services provider’s stock after buying an additional 6,084 shares during the period. M&G Investment Management Ltd.’s holdings in Cigna were worth $6,258,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Kanawha Capital Management LLC raised its holdings in Cigna by 0.7% during the 1st quarter. Kanawha Capital Management LLC now owns 6,141 shares of the health services provider’s stock worth $1,484,000 after buying an additional 42 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Cigna by 0.3% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 14,739 shares of the health services provider’s stock worth $3,563,000 after acquiring an additional 45 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Cigna by 1.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 4,673 shares of the health services provider’s stock worth $1,165,000 after acquiring an additional 48 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Cigna by 3.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 1,550 shares of the health services provider’s stock worth $323,000 after acquiring an additional 50 shares in the last quarter. Finally, CIBC World Markets Inc. grew its stake in shares of Cigna by 0.4% during the 1st quarter. CIBC World Markets Inc. now owns 12,251 shares of the health services provider’s stock worth $2,962,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Cigna from $265.00 to $304.00 and gave the stock an “outperform” rating in a research note on Friday, May 14th. Truist Financial raised their price target on shares of Cigna from $280.00 to $300.00 in a research note on Wednesday, April 14th. Truist Securities raised their price target on shares of Cigna from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, April 14th. Mizuho raised their target price on shares of Cigna from $264.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, May 10th. Finally, BMO Capital Markets raised their target price on shares of Cigna from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Monday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $283.00.

In other news, EVP Nicole S. Jones sold 19,375 shares of Cigna stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $251.51, for a total transaction of $4,873,006.25. Following the completion of the sale, the executive vice president now owns 55,503 shares of the company’s stock, valued at $13,959,559.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 62,123 shares of Cigna stock in a transaction on Friday, May 7th. The stock was sold at an average price of $260.83, for a total value of $16,203,542.09. Following the sale, the chief executive officer now directly owns 173,841 shares of the company’s stock, valued at approximately $45,342,948.03. The disclosure for this sale can be found here. Insiders have sold 260,920 shares of company stock valued at $66,671,458 in the last three months. Insiders own 0.80% of the company’s stock.

CI stock opened at $239.65 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty day moving average is $253.54. Cigna Co. has a one year low of $158.84 and a one year high of $272.81. The company has a market capitalization of $82.23 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.05 and a beta of 0.91.

Cigna (NYSE:CI) last released its quarterly earnings data on Thursday, May 6th. The health services provider reported $4.73 EPS for the quarter, topping the Zacks’ consensus estimate of $4.42 by $0.31. Cigna had a net margin of 5.18% and a return on equity of 13.82%. The firm had revenue of $40.97 billion during the quarter, compared to analysts’ expectations of $40.27 billion. During the same period in the previous year, the business posted $4.69 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts expect that Cigna Co. will post 20.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 23rd. Stockholders of record on Tuesday, June 8th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 7th. Cigna’s dividend payout ratio is currently 21.68%.

About Cigna

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, 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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