Insider Selling: Cigna Co. (NYSE:CI) SVP Sells 7,044 Shares of Stock

kopsource · Aug 12, 2022 07:52

Cigna Co. (NYSE:CI – Get Rating) SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $286.89, for a total value of $2,020,853.16. Following the completion of the transaction, the senior vice president now directly owns 8,498 shares in the company, valued at $2,437,991.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cigna Price Performance

Shares of NYSE:CI traded down $1.07 during midday trading on Thursday, hitting $286.00. The company had a trading volume of 1,820,097 shares, compared to its average volume of 1,765,573. Cigna Co. has a twelve month low of $191.74 and a twelve month high of $289.63. 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 stock has a market cap of $87.26 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.73. The business's 50-day simple moving average is $266.54 and its 200-day simple moving average is $252.56.

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Cigna (NYSE:CI – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.60. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The business had revenue of $45.48 billion during the quarter, compared to analysts' expectations of $44.34 billion. During the same period in the previous year, the firm posted $5.24 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Cigna Co. will post 23 earnings per share for the current year.

Cigna Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $4.48 dividend on an annualized basis and a yield of 1.57%. Cigna's dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. raised Cigna from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $248.00 to $304.00 in a report on Monday, May 16th. The Goldman Sachs Group raised their target price on Cigna from $273.00 to $311.00 and gave the stock a "neutral" rating in a report on Tuesday. Raymond James raised their target price on Cigna from $275.00 to $300.00 in a report on Tuesday, May 10th. UBS Group raised their target price on Cigna from $310.00 to $330.00 and gave the stock a "buy" rating in a report on Monday. Finally, Sanford C. Bernstein raised their target price 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 given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cigna presently has an average rating of "Moderate Buy" and an average price target of $304.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Cigna by 1.1% in the fourth quarter. State Street Corp now owns 14,982,346 shares of the health services provider's stock valued at $3,440,396,000 after purchasing an additional 162,686 shares during the period. Sanders Capital LLC lifted its holdings in Cigna by 0.3% during the 1st quarter. Sanders Capital LLC now owns 7,479,977 shares of the health services provider's stock worth $1,963,220,000 after buying an additional 21,880 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cigna by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 5,428,675 shares of the health services provider's stock worth $1,242,969,000 after buying an additional 41,696 shares during the last quarter. Norges Bank purchased a new stake in Cigna during the 4th quarter worth about $747,950,000. Finally, Invesco Ltd. lifted its holdings in Cigna by 25.1% during the 1st quarter. Invesco Ltd. now owns 3,191,358 shares of the health services provider's stock worth $764,682,000 after buying an additional 639,645 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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.