Tiedemann Advisors LLC cut its holdings in Cigna Corp (NYSE:CI) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,019 shares of the health services provider’s stock after selling 104 shares during the quarter. Tiedemann Advisors LLC’s holdings in Cigna were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. WASHINGTON TRUST Co purchased a new position in Cigna during the 1st quarter valued at about $197,000. AE Wealth Management LLC lifted its stake in shares of Cigna by 16.0% during the first quarter. AE Wealth Management LLC now owns 10,219 shares of the health services provider’s stock valued at $1,811,000 after acquiring an additional 1,409 shares during the period. Veritas Asset Management LLP lifted its stake in shares of Cigna by 40.0% during the first quarter. Veritas Asset Management LLP now owns 4,214,429 shares of the health services provider’s stock valued at $746,713,000 after acquiring an additional 1,204,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cigna by 21.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,911 shares of the health services provider’s stock valued at $20,714,000 after acquiring an additional 20,408 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Cigna during the first quarter valued at $260,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on CI shares. Piper Sandler upped their price target on Cigna from $236.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Goldman Sachs Group reissued a “buy” rating and issued a $245.00 target price on shares of Cigna in a research note on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $255.00 target price (up previously from $245.00) on shares of Cigna in a research note on Thursday, February 6th. Deutsche Bank cut their target price on Cigna from $288.00 to $279.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Finally, Evercore ISI assumed coverage on Cigna in a research report on Friday, February 7th. They set a “hold” rating and a $230.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $241.43.

In other Cigna news, CEO David Cordani sold 22,582 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $188.54, for a total transaction of $4,257,610.28. Following the sale, the chief executive officer now owns 34,592 shares in the company, valued at $6,521,975.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John M. Murabito sold 5,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $210.00, for a total value of $1,050,000.00. Following the sale, the executive vice president now owns 61,100 shares in the company, valued at approximately $12,831,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,746 shares of company stock valued at $23,449,093. 0.90% of the stock is currently owned by corporate insiders.

Shares of CI opened at $190.15 on Friday. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 14.60, a PEG 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. The business’s fifty day moving average is $181.40 and its 200-day moving average is $192.36.

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

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.

Further Reading: Margin

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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