Oregon Public Employees Retirement Fund lowered its holdings in shares of Cigna Co. (NYSE:CI – Get Rating) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,719 shares of the health services provider’s stock after selling 9,443 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Cigna were worth $24,852,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Cigna during the 4th quarter valued at about $78,000. Benjamin Edwards Inc. increased its stake in shares of Cigna by 150.9% in the fourth quarter. Benjamin Edwards Inc. now owns 138 shares of the health services provider’s stock worth $32,000 after buying an additional 83 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Cigna by 20.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 7,749 shares of the health services provider’s stock worth $1,779,000 after buying an additional 1,340 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Cigna by 3.8% in the fourth quarter. Kestra Advisory Services LLC now owns 18,572 shares of the health services provider’s stock worth $4,265,000 after purchasing an additional 685 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Cigna by 17.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 44,962 shares of the health services provider’s stock valued at $10,325,000 after acquiring an additional 6,562 shares during the period. Institutional investors own 88.57% of the company’s stock.
Several brokerages have commented on CI. Mizuho boosted their price target on shares of Cigna from $266.00 to $291.00 in a research report on Monday, May 9th. Bank of America raised Cigna from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $265.00 to $300.00 in a research report on Thursday, May 26th. Morgan Stanley upgraded Cigna from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $283.00 to $296.00 in a report on Wednesday, June 22nd. Cowen upgraded Cigna from a “market perform” rating to an “outperform” rating and upped their target price for the company from $242.00 to $329.00 in a research note on Monday, May 9th. Finally, JPMorgan Chase & Co. upgraded Cigna from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $248.00 to $304.00 in a report on Monday, May 16th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $289.12.
Shares of Cigna stock traded up $4.51 during mid-day trading on Friday, hitting $268.03. 1,302,771 shares of the stock were exchanged, compared to its average volume of 1,691,374. The company has a 50-day simple moving average of $258.57 and a 200 day simple moving average of $244.20. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. Cigna Co. has a twelve month low of $191.74 and a twelve month high of $273.58. The stock has a market capitalization of $85.04 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.05 and a beta of 0.77.
Cigna (NYSE:CI – Get Rating) last issued its quarterly earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.88. The business had revenue of $44.01 billion during the quarter, compared to analyst estimates of $43.48 billion. Cigna had a net margin of 3.04% and a return on equity of 15.31%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.73 earnings per share. Equities research analysts forecast that Cigna Co. will post 22.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 8th were given a dividend of $1.12 per share. The ex-dividend date was Tuesday, June 7th. This represents a $4.48 dividend on an annualized basis and a yield of 1.67%. Cigna’s payout ratio is currently 27.79%.
About Cigna (Get Rating)
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.
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