Log Out

Carnegie Capital Asset Management LLC Reduces Stock Position in Cigna Co. (NYSE:CI)

Defense World · Sep 24, 2022 06:32

Carnegie Capital Asset Management LLC cut its holdings in shares of Cigna Co. (NYSE:CI – Get Rating) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,364 shares of the health services provider's stock after selling 87 shares during the quarter. Carnegie Capital Asset Management LLC's holdings in Cigna were worth $798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CI. Norges Bank purchased a new stake in Cigna during the 4th quarter worth approximately $747,950,000. Invesco Ltd. increased its holdings in shares of Cigna by 25.1% in the 1st quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider's stock valued at $764,682,000 after acquiring an additional 639,645 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Cigna in the 4th quarter valued at approximately $96,383,000. Woodline Partners LP bought a new stake in shares of Cigna in the 1st quarter valued at approximately $54,184,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Cigna in the 1st quarter valued at approximately $44,063,000. 89.54% of the stock is currently owned by hedge funds and other institutional investors.

Get Cigna alerts:

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Cigna from $306.00 to $319.00 and gave the company an "overweight" rating in a report on Monday, August 8th. Oppenheimer boosted their price target on Cigna from $310.00 to $320.00 and gave the company an "outperform" rating in a report on Monday, August 8th. SVB Leerink boosted their price target on Cigna from $276.00 to $305.00 and gave the company a "market perform" rating in a report on Wednesday, August 10th. Sanford C. Bernstein boosted their price target on Cigna from $258.00 to $301.00 and gave the company a "mkt perform" rating in a report on Friday, May 27th. Finally, Royal Bank of Canada boosted their price target on Cigna from $272.00 to $294.00 in a report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $305.58.

Insider Activity

In other news, EVP Paul A. Sanford sold 374 shares of the company's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $285.00, for a total transaction of $106,590.00. Following the completion of the sale, the executive vice president now directly owns 9,121 shares of the company's stock, valued at $2,599,485. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Paul A. Sanford sold 374 shares of the company's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $285.00, for a total transaction of $106,590.00. Following the completion of the sale, the executive vice president now directly owns 9,121 shares of the company's stock, valued at $2,599,485. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Everett Neville sold 902 shares of the company's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $273.98, for a total value of $247,129.96. Following the sale, the executive vice president now directly owns 6,764 shares of the company's stock, valued at $1,853,200.72. The disclosure for this sale can be found here. Insiders sold a total of 41,158 shares of company stock worth $11,581,956 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

Cigna Trading Down 1.8 %

Shares of Cigna stock opened at $277.77 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.67. The firm has a market cap of $84.75 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.71. The business has a fifty day simple moving average of $283.44 and a 200-day simple moving average of $265.38. Cigna Co. has a fifty-two week low of $191.74 and a fifty-two week high of $296.29.

Cigna (NYSE:CI – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.60. The business had revenue of $45.48 billion during the quarter, compared to analyst estimates of $44.34 billion. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.24 earnings per share. On average, equities analysts forecast that Cigna Co. will post 22.94 EPS for the current fiscal year.

Cigna Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th were issued a $1.12 dividend. The ex-dividend date was Tuesday, September 6th. This represents a $4.48 annualized dividend and a dividend yield of 1.61%. Cigna's dividend payout ratio (DPR) is 26.71%.

Cigna Profile

(Get Rating)

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.