Cigna Co. (NYSE:CI) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its position in Cigna Co. (NYSE:CIGet Rating) by 11.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,700 shares of the health services provider’s stock after selling 7,900 shares during the period. Forsta AP Fonden’s holdings in Cigna were worth $14,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Norges Bank acquired a new stake in shares of Cigna during the 4th quarter valued at approximately $747,950,000. Point72 Asset Management L.P. acquired a new position in shares of Cigna during the 4th quarter worth approximately $96,383,000. Invesco Ltd. raised its position in shares of Cigna by 6.9% during the 4th quarter. Invesco Ltd. now owns 2,551,713 shares of the health services provider’s stock worth $585,950,000 after purchasing an additional 163,815 shares during the last quarter. State Street Corp raised its position in shares of Cigna by 1.1% during the 4th quarter. State Street Corp now owns 14,982,346 shares of the health services provider’s stock worth $3,440,396,000 after purchasing an additional 162,686 shares during the last quarter. Finally, Kiltearn Partners LLP acquired a new position in shares of Cigna during the 1st quarter worth approximately $22,092,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Cigna Stock Performance

Shares of CI stock opened at $281.77 on Friday. Cigna Co. has a 12 month low of $191.74 and a 12 month high of $284.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.70. The firm has a market capitalization of $89.40 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.10 and a beta of 0.73. The company’s fifty day moving average price is $265.57 and its two-hundred day moving average price is $251.60.

Cigna (NYSE:CIGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, topping 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 firm had revenue of $45.48 billion for the quarter, compared to analyst estimates of $44.34 billion. During the same quarter in the previous year, the business posted $5.24 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Cigna Co. will post 22.9 earnings per share for the current fiscal year.

Cigna Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a $1.12 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.59%. Cigna’s dividend payout ratio (DPR) is presently 26.71%.

Insider Activity

In other news, CEO David Cordani sold 45,261 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.42, for a total value of $12,239,479.62. Following the sale, the chief executive officer now owns 160,499 shares in the company, valued at approximately $43,402,139.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David Cordani sold 45,261 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.42, for a total transaction of $12,239,479.62. Following the completion of the sale, the chief executive officer now owns 160,499 shares of the company’s stock, valued at approximately $43,402,139.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicole S. Jones sold 5,901 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the sale, the executive vice president now directly owns 36,908 shares of the company’s stock, valued at approximately $9,965,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,642 shares of company stock worth $20,869,065. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CI. Sanford C. Bernstein lifted their price objective on Cigna from $258.00 to $301.00 and gave the stock a “mkt perform” rating in a research report on Friday, May 27th. Mizuho lifted their target price on shares of Cigna from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cigna from $236.00 to $284.00 in a research note on Thursday, June 9th. Stephens lifted their target price on shares of Cigna from $265.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Finally, Morgan Stanley raised shares of Cigna from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $283.00 to $296.00 in a research note on Wednesday, June 22nd. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.72.

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.

See Also

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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