Shelton Capital Management cut its holdings in Cigna Co. (NYSE:CI) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,207 shares of the health services provider’s stock after selling 152 shares during the quarter. Shelton Capital Management’s holdings in Cigna were worth $442,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Townsend & Associates Inc bought a new position in shares of Cigna in the third quarter valued at approximately $1,523,000. AQR Capital Management LLC raised its position in shares of Cigna by 47.6% in the second quarter. AQR Capital Management LLC now owns 176,883 shares of the health services provider’s stock valued at $41,934,000 after purchasing an additional 57,069 shares during the period. Magnetar Financial LLC increased its position in Cigna by 140.1% during the third quarter. Magnetar Financial LLC now owns 91,024 shares of the health services provider’s stock worth $18,219,000 after acquiring an additional 53,117 shares during the period. Alliancebernstein L.P. increased its position in Cigna by 10.4% during the third quarter. Alliancebernstein L.P. now owns 1,277,730 shares of the health services provider’s stock worth $255,750,000 after acquiring an additional 120,847 shares during the period. Finally, Private Advisor Group LLC increased its position in Cigna by 27.3% during the third quarter. Private Advisor Group LLC now owns 15,899 shares of the health services provider’s stock worth $3,182,000 after acquiring an additional 3,410 shares during the period. Hedge funds and other institutional investors own 86.34% of the company’s stock.
A number of equities analysts recently issued reports on CI shares. The Goldman Sachs Group started coverage on shares of Cigna in a research report on Tuesday, December 14th. They set a “neutral” rating and a $233.00 target price on the stock. Seaport Res Ptn reaffirmed a “buy” rating on shares of Cigna in a research report on Wednesday, November 17th. Morgan Stanley decreased their price target on shares of Cigna from $238.00 to $235.00 and set an “equal weight” rating on the stock in a research note on Thursday. Royal Bank of Canada downgraded shares of Cigna from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $304.00 to $235.00 in a research note on Monday, February 7th. Finally, Truist Financial lifted their price target on shares of Cigna from $270.00 to $275.00 in a research note on Wednesday, January 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $255.39.
Shares of NYSE:CI opened at $227.50 on Friday. The company has a market capitalization of $75.40 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 0.89 and a beta of 0.88. The firm’s 50 day simple moving average is $227.88 and its 200 day simple moving average is $216.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.52 and a quick ratio of 0.49. Cigna Co. has a fifty-two week low of $191.74 and a fifty-two week high of $272.81.
Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, February 3rd. The health services provider reported $4.77 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $0.06. The business had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $43.98 billion. Cigna had a net margin of 3.08% and a return on equity of 14.59%. Cigna’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company posted $3.51 EPS. Equities research analysts expect that Cigna Co. will post 22.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 24th. Investors of record on Wednesday, March 9th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 1.97%. This is a boost from Cigna’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, March 8th. Cigna’s dividend payout ratio is presently 25.41%.
In other news, EVP Everett Neville sold 175 shares of the firm’s stock in a transaction that occurred on Tuesday, January 11th. The shares were sold at an average price of $240.00, for a total transaction of $42,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.
Cigna Corp. engages in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.
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