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ACG Wealth Takes $163,000 Position in Cigna Co. (NYSE:CI)

Defense World · Sep 23, 2022 05:41

ACG Wealth acquired a new stake in shares of Cigna Co. (NYSE:CI – Get Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 620 shares of the health services provider's stock, valued at approximately $163,000.

Several other institutional investors have also added to or reduced their stakes in CI. Country Trust Bank boosted its position in Cigna by 116.7% during the first quarter. Country Trust Bank now owns 104 shares of the health services provider's stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in Cigna during the first quarter valued at $30,000. Exane Derivatives boosted its position in Cigna by 6,200.0% during the first quarter. Exane Derivatives now owns 126 shares of the health services provider's stock valued at $30,000 after acquiring an additional 124 shares during the last quarter. Wagner Wealth Management LLC boosted its position in Cigna by 144.4% during the fourth quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Finally, SWS Partners bought a new stake in Cigna during the first quarter valued at $32,000. 89.54% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CI shares. Wells Fargo & Company increased their price objective on shares of Cigna from $306.00 to $319.00 and gave the stock an "overweight" rating in a research report on Monday, August 8th. Mizuho increased their price objective on shares of Cigna from $291.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, August 5th. Morgan Stanley increased their price objective on shares of Cigna from $296.00 to $318.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 17th. SVB Leerink increased their price objective on shares of Cigna from $276.00 to $305.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 10th. Finally, Credit Suisse Group upped their target price on shares of Cigna from $315.00 to $329.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. Seven 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $305.58.

Insider Activity

In other news, insider Jason D. Sadler sold 9,505 shares of the firm's stock in a transaction on Friday, July 8th. The shares were sold at an average price of $280.00, for a total transaction of $2,661,400.00. Following the sale, the insider now owns 32,853 shares in the company, valued at approximately $9,198,840. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Paul A. Sanford sold 374 shares of Cigna stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $285.00, for a total value of $106,590.00. Following the transaction, the executive vice president now owns 9,121 shares in the company, valued at approximately $2,599,485. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason D. Sadler sold 9,505 shares of Cigna stock in a transaction on Friday, July 8th. The stock was sold at an average price of $280.00, for a total transaction of $2,661,400.00. Following the completion of the transaction, the insider now owns 32,853 shares in the company, valued at approximately $9,198,840. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,158 shares of company stock worth $11,581,956. 0.80% of the stock is currently owned by corporate insiders.

Cigna Stock Down 0.7 %

CI opened at $282.90 on Friday. The company has a 50 day moving average of $283.36 and a 200 day moving average of $265.05. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. Cigna Co. has a 12 month low of $191.74 and a 12 month high of $296.29. The company has a market cap of $86.32 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.13 and a beta of 0.71.

Cigna (NYSE:CI – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The health services provider reported $6.22 EPS for the quarter, beating the consensus estimate of $5.62 by $0.60. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The firm had revenue of $45.48 billion during the quarter, compared to the consensus estimate of $44.34 billion. During the same period last year, the firm earned $5.24 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Cigna Co. will post 22.9 EPS for the current year.

Cigna Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, September 6th. Cigna's dividend payout ratio (DPR) is currently 26.71%.

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.