Connecticut Wealth Management LLC Has $1.74 Million Stake in Cigna Co. (NYSE:CI)

Connecticut Wealth Management LLC lowered its stake in shares of Cigna Co. (NYSE:CIGet Rating) by 5.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,587 shares of the health services provider’s stock after selling 360 shares during the period. Connecticut Wealth Management LLC’s holdings in Cigna were worth $1,736,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CI. Country Trust Bank lifted its holdings in Cigna by 116.7% in 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 grew its position in Cigna by 144.4% in the fourth quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Exane Derivatives grew its position in Cigna by 6,200.0% in the first quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 124 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in Cigna in the first quarter valued at $30,000. Finally, Vectors Research Management LLC bought a new position in Cigna in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 89.54% of the company’s stock.

Cigna Stock Down 0.4 %

Cigna stock opened at $289.32 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.67. Cigna Co. has a 12-month low of $191.74 and a 12-month high of $296.29. The firm’s fifty day moving average is $282.61 and its 200 day moving average is $264.43. The company has a market capitalization of $88.28 billion, a PE ratio of 17.25, a PEG ratio of 1.14 and a beta of 0.71.

Cigna (NYSE:CIGet Rating) last released its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.62 by $0.60. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The company had revenue of $45.48 billion for the quarter, compared to the consensus estimate of $44.34 billion. During the same quarter in the previous year, the company earned $5.24 EPS. Cigna’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cigna Co. will post 22.9 EPS for the current fiscal year.

Cigna Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $4.48 annualized dividend and a yield of 1.55%. Cigna’s payout ratio is 26.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CI. UBS Group lifted their price objective on shares of Cigna from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Barclays lifted their price objective on shares of Cigna from $275.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cigna from $236.00 to $284.00 in a research note on Thursday, June 9th. Loop Capital initiated coverage on shares of Cigna in a research report on Thursday, June 16th. They issued a “hold” rating and a $270.00 target price for the company. Finally, Sanford C. Bernstein boosted their target price on shares of Cigna from $258.00 to $301.00 and gave the company a “mkt perform” rating in a research report on Friday, May 27th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cigna has a consensus rating of “Moderate Buy” and an average price target of $305.58.

Insiders Place Their Bets

In other news, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $286.89, for a total value of $2,020,853.16. Following the completion of the sale, the senior vice president now owns 8,498 shares in the company, valued at $2,437,991.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $286.89, for a total value of $2,020,853.16. Following the completion of the sale, the senior vice president now owns 8,498 shares in the company, valued at $2,437,991.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric P. Palmer sold 6,521 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $275.00, for a total transaction of $1,793,275.00. Following the transaction, the chief executive officer now owns 39,978 shares of the company’s stock, valued at approximately $10,993,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,158 shares of company stock worth $11,581,956. Insiders own 0.80% of the company’s stock.

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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