Sciencast Management LP Purchases New Position in Cigna Co. (NYSE:CI)

Sciencast Management LP purchased a new stake in shares of Cigna Co. (NYSE:CI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,538 shares of the health services provider’s stock, valued at approximately $848,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Kanawha Capital Management LLC lifted its holdings in Cigna by 0.7% during the 1st quarter. Kanawha Capital Management LLC now owns 6,141 shares of the health services provider’s stock valued at $1,484,000 after purchasing an additional 42 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Cigna by 0.3% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 14,739 shares of the health services provider’s stock valued at $3,563,000 after acquiring an additional 45 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Cigna by 1.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 4,673 shares of the health services provider’s stock valued at $1,165,000 after acquiring an additional 48 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Cigna by 3.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 1,550 shares of the health services provider’s stock valued at $323,000 after acquiring an additional 50 shares in the last quarter. Finally, CIBC World Markets Inc. increased its position in Cigna by 0.4% in the 1st quarter. CIBC World Markets Inc. now owns 12,251 shares of the health services provider’s stock valued at $2,962,000 after acquiring an additional 52 shares in the last quarter. 88.22% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on CI. Truist Securities boosted their price objective on shares of Cigna from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, April 14th. Royal Bank of Canada boosted their price objective on shares of Cigna from $265.00 to $304.00 and gave the company an “outperform” rating in a report on Friday, May 14th. BMO Capital Markets boosted their price objective on shares of Cigna from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Monday, May 10th. Credit Suisse Group lifted their price target on shares of Cigna from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, May 10th. Finally, Truist lifted their price target on shares of Cigna from $300.00 to $320.00 in a research note on Monday, May 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Cigna presently has an average rating of “Buy” and a consensus target price of $283.00.

In related news, EVP Nicole S. Jones sold 19,375 shares of the company’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $251.51, for a total transaction of $4,873,006.25. Following the completion of the sale, the executive vice president now owns 55,503 shares of the company’s stock, valued at $13,959,559.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 62,123 shares of the company’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $260.83, for a total transaction of $16,203,542.09. Following the sale, the chief executive officer now directly owns 173,841 shares of the company’s stock, valued at approximately $45,342,948.03. The disclosure for this sale can be found here. Insiders sold 260,920 shares of company stock worth $66,671,458 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

CI stock opened at $239.65 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day simple moving average of $253.54. Cigna Co. has a 52 week low of $158.84 and a 52 week high of $272.81. The firm has a market capitalization of $82.23 billion, a P/E ratio of 10.30, a PEG ratio of 1.05 and a beta of 0.91.

Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, May 6th. The health services provider reported $4.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.42 by $0.31. Cigna had a net margin of 5.18% and a return on equity of 13.82%. The business had revenue of $40.97 billion for the quarter, compared to the consensus estimate of $40.27 billion. During the same period in the prior year, the company posted $4.69 earnings per share. Cigna’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Co. will post 20.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 23rd. Investors of record on Tuesday, June 8th will be paid a $1.00 dividend. The ex-dividend date is Monday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 1.67%. Cigna’s dividend payout ratio (DPR) is presently 21.68%.

Cigna Company Profile

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, and intelligence solutions to health plans, employers, government organizations, and health care providers.

Read More: What does the Dow Jones Industrial Average (DJIA) measure?

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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.