Alps Advisors Inc. Buys New Shares in Cigna Co. (NYSE:CI)

Alps Advisors Inc. bought a new stake in Cigna Co. (NYSE:CIGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 903 shares of the health services provider’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently bought and sold shares of CI. Sanders Capital LLC grew its stake in Cigna by 0.3% during the first quarter. Sanders Capital LLC now owns 7,479,977 shares of the health services provider’s stock worth $1,963,220,000 after buying an additional 21,880 shares during the period. Invesco Ltd. grew its stake in Cigna by 25.1% during the first quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider’s stock worth $764,682,000 after buying an additional 639,645 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Cigna by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,808,135 shares of the health services provider’s stock worth $433,248,000 after buying an additional 28,643 shares during the period. Swiss National Bank grew its stake in Cigna by 11.0% during the first quarter. Swiss National Bank now owns 1,435,463 shares of the health services provider’s stock worth $343,951,000 after buying an additional 142,700 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cigna by 38.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,396,182 shares of the health services provider’s stock worth $367,922,000 after buying an additional 385,525 shares during the period. 89.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Cigna from $318.00 to $347.00 and gave the stock an “overweight” rating in a research note on Wednesday. Credit Suisse Group boosted their target price on shares of Cigna from $329.00 to $368.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. Royal Bank of Canada boosted their target price on shares of Cigna from $294.00 to $344.00 and gave the stock a “sector perform” rating in a research report on Monday, November 7th. Cowen boosted their target price on shares of Cigna from $329.00 to $385.00 in a research report on Monday, November 7th. Finally, Cowen boosted their target price on shares of Cigna from $329.00 to $385.00 in a research report on Monday, November 7th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $329.32.

Cigna Stock Up 0.2 %

Cigna stock opened at $319.84 on Thursday. The company has a 50-day simple moving average of $300.94 and a 200-day simple moving average of $282.14. The firm has a market capitalization of $97.79 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.73. Cigna Co. has a one year low of $191.74 and a one year high of $331.05.

Cigna Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Tuesday, December 6th will be given a dividend of $1.12 per share. The ex-dividend date is Monday, December 5th. This represents a $4.48 annualized dividend and a dividend yield of 1.40%. Cigna’s dividend payout ratio is currently 21.39%.

Insider Transactions at Cigna

In other news, EVP Paul A. Sanford sold 373 shares of the company’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $300.00, for a total transaction of $111,900.00. Following the completion of the transaction, the executive vice president now owns 8,748 shares in the company, valued at $2,624,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael W. Triplett sold 8,260 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $292.76, for a total value of $2,418,197.60. Following the completion of the transaction, the insider now owns 25,091 shares in the company, valued at approximately $7,345,641.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul A. Sanford sold 373 shares of the stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $300.00, for a total transaction of $111,900.00. Following the completion of the transaction, the executive vice president now owns 8,748 shares of the company’s stock, valued at approximately $2,624,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,633 shares of company stock worth $3,730,098. Insiders own 0.80% of the company’s stock.

Cigna Company Profile

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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.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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