Buckingham Asset Management LLC increased its stake in shares of Cigna Corp (NYSE:CI) by 22.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,668 shares of the health services provider’s stock after purchasing an additional 485 shares during the period. Buckingham Asset Management LLC’s holdings in Cigna were worth $473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Braun Bostich & Associates Inc. acquired a new stake in Cigna in the 4th quarter valued at approximately $26,000. Procyon Private Wealth Partners LLC acquired a new stake in Cigna in the 4th quarter valued at approximately $35,000. 1776 Wealth LLC acquired a new stake in Cigna in the 1st quarter valued at approximately $32,000. Princeton Global Asset Management LLC acquired a new stake in Cigna in the 4th quarter valued at approximately $38,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Cigna in the 4th quarter worth approximately $41,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NYSE CI opened at $190.15 on Friday. The stock has a fifty day moving average of $181.40 and a 200-day moving average of $192.36. The stock has a market capitalization of $69.84 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.68. Cigna Corp has a 52 week low of $118.50 and a 52 week high of $224.64. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.67 and a current ratio of 0.67.

Cigna (NYSE:CI) last released its earnings results on Thursday, April 30th. The health services provider reported $4.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.35 by $0.34. Cigna had a return on equity of 15.05% and a net margin of 3.19%. The company had revenue of $38.39 billion during the quarter, compared to analysts’ expectations of $37.09 billion. During the same period last year, the firm earned $3.90 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts forecast that Cigna Corp will post 18.41 earnings per share for the current fiscal year.

In related news, Director William L. Roper sold 2,819 shares of Cigna stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $192.07, for a total transaction of $541,445.33. Following the completion of the sale, the director now directly owns 10,442 shares of the company’s stock, valued at $2,005,594.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy C. Wentworth sold 2,200 shares of Cigna stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $201.11, for a total value of $442,442.00. Following the sale, the insider now directly owns 70,943 shares of the company’s stock, valued at $14,267,346.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,746 shares of company stock valued at $23,449,093. 0.90% of the stock is owned by insiders.

A number of analysts have commented on the company. Piper Sandler raised their price objective on Cigna from $236.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. UBS Group raised their target price on Cigna from $222.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BMO Capital Markets restated an “outperform” rating and set a $252.00 target price on shares of Cigna in a research report on Monday, February 10th. Royal Bank of Canada raised their target price on Cigna from $249.00 to $266.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $255.00 target price (up previously from $245.00) on shares of Cigna in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $241.43.

Cigna Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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