Cigna Co. (NYSE:CI) Holdings Decreased by Rhumbline Advisers

Rhumbline Advisers lowered its position in Cigna Co. (NYSE:CIGet Rating) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 642,343 shares of the health services provider’s stock after selling 1,820 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Cigna worth $147,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Meristem Family Wealth LLC purchased a new position in Cigna in the fourth quarter valued at about $213,000. Associated Banc Corp increased its holdings in shares of Cigna by 1.2% during the 4th quarter. Associated Banc Corp now owns 98,458 shares of the health services provider’s stock valued at $22,609,000 after acquiring an additional 1,121 shares during the last quarter. Vaughan David Investments LLC IL increased its holdings in shares of Cigna by 6.8% during the 4th quarter. Vaughan David Investments LLC IL now owns 128,323 shares of the health services provider’s stock valued at $29,467,000 after acquiring an additional 8,167 shares during the last quarter. BRYN MAWR TRUST Co increased its holdings in shares of Cigna by 13.5% during the 4th quarter. BRYN MAWR TRUST Co now owns 8,404 shares of the health services provider’s stock valued at $1,930,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Oarsman Capital Inc. acquired a new position in shares of Cigna during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

CI stock traded down $0.84 during midday trading on Friday, reaching $259.19. 1,520,115 shares of the company’s stock traded hands, compared to its average volume of 1,328,558. The company has a 50-day simple moving average of $248.82 and a two-hundred day simple moving average of $232.38. Cigna Co. has a 1-year low of $191.74 and a 1-year high of $269.97. The company has a market cap of $82.23 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.03 and a beta of 0.78. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67.

Cigna (NYSE:CIGet Rating) last released its earnings results on Friday, May 6th. The health services provider reported $6.01 EPS for the quarter, beating the consensus estimate of $5.13 by $0.88. The company had revenue of $44.01 billion during the quarter, compared to analysts’ expectations of $43.48 billion. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $4.73 EPS. Equities research analysts forecast that Cigna Co. will post 22.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be given a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $4.48 annualized dividend and a dividend yield of 1.73%. Cigna’s dividend payout ratio is currently 27.79%.

A number of brokerages have recently commented on CI. Wells Fargo & Company increased their price objective on Cigna from $278.00 to $306.00 in a report on Monday, May 9th. Truist Financial increased their price objective on Cigna from $290.00 to $310.00 in a report on Monday, May 9th. Oppenheimer increased their price objective on Cigna from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, May 9th. Raymond James increased their target price on Cigna from $275.00 to $300.00 in a research note on Tuesday. Finally, Royal Bank of Canada increased their target price on Cigna from $235.00 to $272.00 in a research note on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cigna presently has an average rating of “Buy” and an average price target of $276.63.

In other Cigna news, CEO David Cordani sold 45,380 shares of Cigna stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $268.10, for a total transaction of $12,166,378.00. Following the transaction, the chief executive officer now directly owns 152,750 shares in the company, valued at $40,952,275. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric P. Palmer sold 8,126 shares of Cigna stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total value of $2,031,500.00. Following the transaction, the chief executive officer now owns 40,942 shares in the company, valued at $10,235,500. The disclosure for this sale can be found here. Insiders sold a total of 91,836 shares of company stock worth $23,795,261 over the last 90 days. 0.80% of the stock is 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.

See Also

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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