Siemens Fonds Invest GmbH cut its position in shares of Cigna Co. (NYSE:CI – Get Rating) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,604 shares of the health services provider’s stock after selling 138 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Cigna were worth $2,780,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Cigna during the 4th quarter worth approximately $747,950,000. Point72 Asset Management L.P. acquired a new position in shares of Cigna in the 4th quarter worth approximately $96,383,000. Clearbridge Investments LLC acquired a new stake in shares of Cigna during the 1st quarter valued at $44,063,000. Invesco Ltd. raised its holdings in 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 buying an additional 163,815 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its holdings in shares of Cigna by 103.4% during the first quarter. NN Investment Partners Holdings N.V. now owns 321,766 shares of the health services provider’s stock valued at $77,099,000 after acquiring an additional 163,546 shares during the period. 89.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Cigna
In related news, CEO Eric P. Palmer sold 6,521 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $275.00, for a total value of $1,793,275.00. Following the completion of the transaction, the chief executive officer now owns 39,978 shares of the company’s stock, valued at $10,993,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric P. Palmer sold 6,521 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $275.00, for a total value of $1,793,275.00. Following the sale, the chief executive officer now owns 39,978 shares of the company’s stock, valued at approximately $10,993,950. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason D. Sadler sold 3,458 shares of the stock in a transaction 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 owns 31,749 shares of the company’s stock, valued at $8,572,230. The disclosure for this sale can be found here. Insiders have sold 32,898 shares of company stock valued at $9,163,758 in the last 90 days. 0.80% of the stock is currently owned by company insiders.
Cigna Stock Performance
Cigna (NYSE:CI – Get Rating) last released its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share 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 the consensus estimate of $44.34 billion. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $5.24 earnings per share. Equities research analysts forecast that Cigna Co. will post 22.98 EPS for the current year.
Cigna Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a yield of 1.53%. Cigna’s dividend payout ratio is currently 26.71%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on CI shares. UBS Group lifted their price target on Cigna from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cigna from $236.00 to $284.00 in a research report on Thursday, June 9th. Morgan Stanley upped their price objective on shares of Cigna from $296.00 to $318.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. Loop Capital began coverage on shares of Cigna in a report on Thursday, June 16th. They set a “hold” rating and a $270.00 price target on the stock. Finally, SVB Leerink lifted their price objective on Cigna from $276.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $305.58.
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.
- Get a free copy of the StockNews.com research report on Cigna (CI)
- MarketBeat: Week in Review 9/5 – 9/9
- Prepare For A Record-Setting Quarter For Cyber Security Stocks
- The Auto Market Is Slowly Recovering, These Stocks May Outperform
- Is DocuSign On The Verge Of A Major Reversal?
- Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy
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.