Wedge Capital Management L L P NC trimmed its stake in Cigna Co. (NYSE:CI) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,507 shares of the health services provider’s stock after selling 7,275 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Cigna were worth $10,306,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Cigna by 1.7% in the third quarter. BlackRock Inc. now owns 27,601,591 shares of the health services provider’s stock worth $4,675,987,000 after acquiring an additional 466,264 shares during the last quarter. FMR LLC boosted its position in shares of Cigna by 8.9% in the second quarter. FMR LLC now owns 21,733,809 shares of the health services provider’s stock worth $4,078,349,000 after buying an additional 1,769,394 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Cigna by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,015,052 shares of the health services provider’s stock worth $2,204,880,000 after buying an additional 63,085 shares during the period. Sanders Capital LLC boosted its position in shares of Cigna by 4.3% in the third quarter. Sanders Capital LLC now owns 5,866,105 shares of the health services provider’s stock worth $1,088,159,000 after buying an additional 241,261 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Cigna by 4.9% in the second quarter. Nuveen Asset Management LLC now owns 4,238,744 shares of the health services provider’s stock worth $795,400,000 after buying an additional 198,589 shares during the period. 87.58% of the stock is owned by institutional investors.
CI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Cigna from $253.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, November 11th. Mizuho upped their target price on Cigna from $220.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, December 18th. SVB Leerink upped their target price on Cigna from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, December 14th. Piper Sandler increased their price target on Cigna from $234.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday, November 11th. Finally, Truist increased their price target on Cigna from $240.00 to $260.00 in a report on Friday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $247.94.
CI stock opened at $220.80 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $79.77 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 0.89 and a beta of 0.88. Cigna Co. has a 1 year low of $118.50 and a 1 year high of $224.96. The stock’s fifty day moving average is $207.03 and its two-hundred day moving average is $187.04.
Cigna (NYSE:CI) last posted its earnings results on Thursday, November 5th. The health services provider reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.25 by $0.16. The company had revenue of $40.80 billion for the quarter, compared to analysts’ expectations of $39.19 billion. Cigna had a return on equity of 15.39% and a net margin of 3.38%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $4.54 earnings per share. As a group, analysts predict that Cigna Co. will post 18.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 25th. Investors of record on Wednesday, March 10th will be paid a dividend of $1.00 per share. This is a boost from Cigna’s previous quarterly dividend of $0.04. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, March 9th. Cigna’s payout ratio is currently 0.23%.
Cigna Corporation provides insurance and related products and services. It operates through Health Services, Integrated Medical, International Markets, and Group Disability and Other segments. The Health Services segment provides pharmacy benefits management, specialty pharmacy services, clinical solutions, home delivery, and health management services.
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