Washburn Capital Management Inc. Takes $219,000 Position in Cigna Co. (NYSE:CI)

Washburn Capital Management Inc. purchased a new stake in Cigna Co. (NYSE:CIGet Rating) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 831 shares of the health services provider’s stock, valued at approximately $219,000.

Other large investors have also modified their holdings of the company. Beaird Harris Wealth Management LLC grew its holdings in Cigna by 2.7% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,425 shares of the health services provider’s stock worth $341,000 after acquiring an additional 38 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Cigna by 1.4% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 2,856 shares of the health services provider’s stock worth $753,000 after acquiring an additional 40 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Cigna by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,593 shares of the health services provider’s stock worth $809,000 after acquiring an additional 44 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Cigna by 6.9% during the 1st quarter. Financial Management Professionals Inc. now owns 684 shares of the health services provider’s stock worth $164,000 after acquiring an additional 44 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in Cigna by 1.6% during the 1st quarter. Venture Visionary Partners LLC now owns 2,887 shares of the health services provider’s stock worth $691,000 after acquiring an additional 45 shares during the last quarter. 89.54% of the stock is currently owned by institutional investors and hedge funds.

Cigna Price Performance

NYSE:CI traded down $5.72 during mid-day trading on Friday, reaching $277.18. The stock had a trading volume of 30,762 shares, compared to its average volume of 1,964,028. The firm has a 50 day moving average price of $283.36 and a two-hundred day moving average price of $265.05. The stock has a market capitalization of $84.57 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.11 and a beta of 0.71. Cigna Co. has a one year low of $191.74 and a one year high of $296.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 0.72.

Cigna (NYSE:CIGet Rating) last announced its quarterly earnings results 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. The business had revenue of $45.48 billion for the quarter, compared to analysts’ expectations of $44.34 billion. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.24 EPS. As a group, analysts expect that Cigna Co. will post 22.94 earnings per share for the current year.

Cigna Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th were paid a $1.12 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a yield of 1.62%. Cigna’s dividend payout ratio (DPR) is currently 26.71%.

Insiders Place Their Bets

In other Cigna news, insider Jason D. Sadler sold 3,458 shares of Cigna stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $270.00, for a total value of $933,660.00. Following the transaction, the insider now directly owns 31,749 shares of the company’s stock, valued at approximately $8,572,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael W. Triplett sold 8,260 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $292.76, for a total transaction of $2,418,197.60. Following the transaction, the insider now directly owns 25,091 shares of the company’s stock, valued at $7,345,641.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason D. Sadler sold 3,458 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $270.00, for a total value of $933,660.00. Following the transaction, the insider now directly owns 31,749 shares in the company, valued at $8,572,230. The disclosure for this sale can be found here. Insiders have sold 41,158 shares of company stock valued at $11,581,956 in the last ninety days. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CI shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cigna from $236.00 to $284.00 in a research report on Thursday, June 9th. Truist Financial raised their price target on shares of Cigna from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, July 14th. Credit Suisse Group raised their target price on shares of Cigna from $315.00 to $329.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. The Goldman Sachs Group upped their price objective on shares of Cigna from $273.00 to $311.00 and gave the company a “neutral” rating in a report on Tuesday, August 9th. 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 analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.58.

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.

Further Reading

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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