Dubuque Bank & Trust Co. bought a new position in shares of Cigna Co. (NYSE:CI – Get Rating) in the second quarter, Holdings Channel.com reports. The fund bought 781 shares of the health services provider's stock, valued at approximately $205,000.
A number of other large investors have also modified their holdings of CI. Beaird Harris Wealth Management LLC increased its position 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 purchasing an additional 38 shares in the last quarter. Chicago Partners Investment Group LLC increased its position 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 purchasing an additional 44 shares in the last quarter. Financial Management Professionals Inc. increased its position 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 purchasing an additional 44 shares in the last quarter. Venture Visionary Partners LLC increased its position 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 purchasing an additional 45 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its position in Cigna by 2.7% during 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 in the last quarter. Hedge funds and other institutional investors own 89.54% of the company's stock.
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Cigna Price Performance
Shares of NYSE CI opened at $284.95 on Thursday. Cigna Co. has a 1-year low of $191.74 and a 1-year high of $296.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72. The business's fifty day moving average price is $283.00 and its two-hundred day moving average price is $264.73. The firm has a market capitalization of $86.94 billion, a PE ratio of 16.99, a P/E/G ratio of 1.13 and a beta of 0.71.
Cigna (NYSE:CI – Get Rating) last issued its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net
margin of 3.05%. The firm had revenue of $45.48 billion for the quarter, compared to analyst estimates of $44.34 billion. During the same period last year, the company earned $5.24 earnings per share. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts expect that Cigna Co. will post 22.9 EPS for the current year.
Cigna Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 6th. Cigna's dividend payout ratio (DPR) is 26.71%.
Insider Activity
In other news, insider Jason D. Sadler sold 3,458 shares of the firm's stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael W. Triplett sold 8,260 shares of the stock in a transaction on Monday, September 12th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason D. Sadler sold 3,458 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 31,749 shares of the company's stock, valued at approximately $8,572,230. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,158 shares of company stock valued at $11,581,956. Company insiders own 0.80% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on CI. Loop Capital began coverage on Cigna in a report on Thursday, June 16th. They issued a "hold" rating and a $270.00 price target for the company. Morgan Stanley upped their price target on Cigna from $296.00 to $318.00 and gave the stock an "overweight" rating in a report on Wednesday, August 17th. The Goldman Sachs Group upped their price target on Cigna from $273.00 to $311.00 and gave the stock a "neutral" rating in a report on Tuesday, August 9th. Credit Suisse Group upped their price target on Cigna from $315.00 to $329.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. Finally, Sanford C. Bernstein upped their price target on Cigna from $258.00 to $301.00 and gave the stock a "mkt perform" rating in a report on Friday, May 27th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cigna presently has an average rating of "Moderate Buy" and an average target price 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.
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