North Star Investment Management Corp. Decreases Stock Position in Cigna Co. (NYSE:CI)

North Star Investment Management Corp. trimmed its stake in shares of Cigna Co. (NYSE:CI) by 18.9% during the fourth quarter, HoldingsChannel reports. The fund owned 451 shares of the health services provider’s stock after selling 105 shares during the quarter. North Star Investment Management Corp.’s holdings in Cigna were worth $94,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Cypress Capital Group acquired a new stake in Cigna in the fourth quarter worth approximately $214,000. Louisiana State Employees Retirement System raised its stake in Cigna by 20.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,400 shares of the health services provider’s stock valued at $4,663,000 after purchasing an additional 3,800 shares during the period. Carlson Capital Management raised its stake in Cigna by 10.8% during the 4th quarter. Carlson Capital Management now owns 2,371 shares of the health services provider’s stock valued at $524,000 after purchasing an additional 232 shares during the period. Red Spruce Capital LLC raised its stake in Cigna by 1.6% during the 4th quarter. Red Spruce Capital LLC now owns 8,672 shares of the health services provider’s stock valued at $1,805,000 after purchasing an additional 134 shares during the period. Finally, Burney Co. raised its stake in Cigna by 10.4% during the 3rd quarter. Burney Co. now owns 10,973 shares of the health services provider’s stock valued at $1,859,000 after purchasing an additional 1,030 shares during the period. 87.05% of the stock is owned by institutional investors.

Several brokerages have issued reports on CI. Truist boosted their target price on shares of Cigna from $240.00 to $260.00 in a research note on Friday, November 6th. Raymond James upped their price target on shares of Cigna from $240.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 6th. SVB Leerink upped their price target on shares of Cigna from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, December 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cigna from $253.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, November 11th. Finally, BidaskClub raised shares of Cigna from a “sell” rating to a “hold” rating in a research note on Saturday, January 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $247.94.

In other news, EVP Steven B. Miller sold 8,972 shares of the business’s stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $210.00, for a total transaction of $1,884,120.00. Following the completion of the sale, the executive vice president now owns 35,076 shares in the company, valued at $7,365,960. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Wentworth sold 41,357 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $195.46, for a total value of $8,083,639.22. Following the sale, the chief executive officer now owns 88,361 shares of the company’s stock, valued at approximately $17,271,041.06. The disclosure for this sale can be found here. Insiders have sold 92,091 shares of company stock valued at $18,639,824 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Shares of NYSE:CI opened at $223.81 on Thursday. The stock has a market capitalization of $80.86 billion, a PE ratio of 15.69, a P/E/G ratio of 0.96 and a beta of 0.88. Cigna Co. has a 1 year low of $118.50 and a 1 year high of $227.25. The firm has a fifty day moving average price of $208.85 and a 200 day moving average price of $188.07. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.61.

Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, November 5th. The health services provider reported $4.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.25 by $0.16. Cigna had a net margin of 3.38% and a return on equity of 15.39%. The company had revenue of $40.80 billion during the quarter, compared to analysts’ expectations of $39.19 billion. During the same period in the prior year, the company earned $4.54 earnings per share. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that Cigna Co. will post 18.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 25th. Shareholders of record on Wednesday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.79%. This is a boost from Cigna’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, March 9th. Cigna’s dividend payout ratio is 0.23%.

Cigna Profile

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.

Featured Story: What is the definition of market timing?

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Co. (NYSE:CI).

Institutional Ownership by Quarter for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.