Pallas Capital Advisors LLC reduced its holdings in Cigna Co. (NYSE:CI – Get Rating) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,389 shares of the health services provider’s stock after selling 478 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Cigna were worth $879,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CI. Red Door Wealth Management LLC grew its holdings in shares of Cigna by 38.9% in the 1st quarter. Red Door Wealth Management LLC now owns 2,921 shares of the health services provider’s stock worth $699,000 after purchasing an additional 818 shares during the last quarter. Focused Investors LLC grew its holdings in shares of Cigna by 5.9% in the 1st quarter. Focused Investors LLC now owns 559,300 shares of the health services provider’s stock worth $134,014,000 after purchasing an additional 31,100 shares during the last quarter. Bank of New Hampshire grew its holdings in shares of Cigna by 10.2% in the 1st quarter. Bank of New Hampshire now owns 2,383 shares of the health services provider’s stock worth $571,000 after purchasing an additional 220 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Cigna by 2.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,756 shares of the health services provider’s stock worth $421,000 after purchasing an additional 46 shares during the last quarter. Finally, Marcum Wealth LLC grew its holdings in shares of Cigna by 67.4% in the 1st quarter. Marcum Wealth LLC now owns 1,624 shares of the health services provider’s stock worth $389,000 after purchasing an additional 654 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CI. Royal Bank of Canada raised their target price on shares of Cigna from $235.00 to $272.00 in a report on Monday, May 9th. Sanford C. Bernstein raised their price target on shares of Cigna from $258.00 to $301.00 and gave the stock a “mkt perform” rating in a research report on Friday, May 27th. Truist Financial raised their price target on shares of Cigna from $290.00 to $310.00 in a research report on Monday, May 9th. Cowen upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $242.00 to $329.00 in a research report on Monday, May 9th. Finally, StockNews.com started coverage on shares of Cigna in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.12.
In other news, CEO David Cordani sold 45,261 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 160,499 shares of the company’s stock, valued at approximately $43,402,139.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason D. Sadler sold 3,458 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $270.00, for a total transaction of $933,660.00. Following the transaction, the insider now directly owns 31,749 shares of the company’s stock, valued at $8,572,230. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,830 shares of company stock valued at $36,128,528. 0.80% of the stock is owned by company insiders.
Shares of NYSE:CI opened at $268.03 on Friday. The company has a market capitalization of $85.04 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.05 and a beta of 0.77. The firm’s 50 day simple moving average is $258.57 and its 200 day simple moving average is $244.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70. Cigna Co. has a fifty-two week low of $191.74 and a fifty-two week high of $273.58.
Cigna (NYSE:CI – Get Rating) last announced its quarterly earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.88. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The business had revenue of $44.01 billion for the quarter, compared to the consensus estimate of $43.48 billion. During the same period last year, the company posted $4.73 EPS. Cigna’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts expect that Cigna Co. will post 22.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Wednesday, June 8th were paid a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $4.48 dividend on an annualized basis and a yield of 1.67%. Cigna’s payout ratio is 27.79%.
About Cigna: (Get Rating)
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.
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 – Get Rating).
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.