Cigna Co. (NYSE:CI) EVP Paul A. Sanford Sells 374 Shares

kopsource · Aug 12, 2022 20:22

Cigna Co. (NYSE:CI – Get Rating) EVP Paul A. Sanford sold 374 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $285.00, for a total transaction of $106,590.00. Following the completion of the transaction, the executive vice president now directly owns 9,121 shares in the company, valued at approximately $2,599,485. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cigna Stock Down 0.4 %

CI opened at $286.00 on Friday. Cigna Co. has a one year low of $191.74 and a one year high of $289.63. The company has a fifty day moving average price of $266.54 and a 200-day moving average price of $252.56. The firm has a market capitalization of $87.26 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.72 and a quick ratio of 0.72.

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Cigna (NYSE:CI – Get Rating) last announced its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $45.48 billion during the quarter, compared to analyst estimates of $44.34 billion. During the same period in the previous year, the business earned $5.24 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Cigna Co. will post 23 earnings per share for the current fiscal year.

Cigna Dividend Announcement

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 given a $1.12 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $4.48 annualized dividend and a yield of 1.57%. Cigna's dividend payout ratio (DPR) is presently 26.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CI. Glassman Wealth Services grew its stake in Cigna by 4.8% during the second quarter. Glassman Wealth Services now owns 790 shares of the health services provider's stock valued at $208,000 after acquiring an additional 36 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of Cigna by 2.7% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,425 shares of the health services provider's stock worth $341,000 after buying an additional 38 shares in the last quarter. Resources Investment Advisors LLC. grew its stake in shares of Cigna by 0.5% in the 2nd quarter. Resources Investment Advisors LLC. now owns 7,354 shares of the health services provider's stock worth $1,938,000 after buying an additional 38 shares in the last quarter. High Note Wealth LLC grew its stake in shares of Cigna by 0.3% in the 2nd quarter. High Note Wealth LLC now owns 11,370 shares of the health services provider's stock worth $2,996,000 after buying an additional 38 shares in the last quarter. Finally, Institute for Wealth Management LLC. grew its stake in shares of Cigna by 1.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 4,127 shares of the health services provider's stock worth $1,088,000 after buying an additional 39 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CI shares. UBS Group raised their price target on shares of Cigna from $310.00 to $330.00 and gave the company a "buy" rating in a research report on Monday. Oppenheimer raised their price target on shares of Cigna from $310.00 to $320.00 and gave the company an "outperform" rating in a research report on Monday. The Goldman Sachs Group lifted their target price on shares of Cigna from $273.00 to $311.00 and gave the stock a "neutral" rating in a research report on Tuesday. Mizuho lifted their target price 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. Finally, Barclays lifted their target price on shares of Cigna from $275.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $304.67.

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.