NorthCoast Asset Management LLC increased its stake in shares of Cigna Co. (NYSE:CI) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,511 shares of the health services provider’s stock after purchasing an additional 52 shares during the period. NorthCoast Asset Management LLC’s holdings in Cigna were worth $2,729,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Cigna by 5.8% in the first quarter. BlackRock Inc. now owns 29,603,822 shares of the health services provider’s stock valued at $7,156,430,000 after acquiring an additional 1,635,788 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in Cigna in the 1st quarter valued at $288,753,000. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Cigna by 664.9% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 617,027 shares of the health services provider’s stock worth $149,160,000 after acquiring an additional 536,363 shares during the last quarter. FIL Ltd raised its holdings in shares of Cigna by 77.9% during the 1st quarter. FIL Ltd now owns 1,188,694 shares of the health services provider’s stock worth $287,355,000 after acquiring an additional 520,573 shares during the period. Finally, Glenview Capital Management LLC increased its position in Cigna by 27.8% during the first quarter. Glenview Capital Management LLC now owns 1,858,867 shares of the health services provider’s stock worth $449,363,000 after purchasing an additional 403,846 shares during the last quarter. Institutional investors own 87.06% of the company’s stock.
Shares of Cigna stock opened at $202.53 on Tuesday. The firm’s fifty day simple moving average is $217.19 and its 200-day simple moving average is $236.37. Cigna Co. has a 12 month low of $158.84 and a 12 month high of $272.81. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $68.88 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.91 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Wednesday, September 8th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, September 7th. Cigna’s payout ratio is 21.68%.
In related news, Director Elder Granger sold 4,844 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $237.06, for a total value of $1,148,318.64. Following the sale, the director now owns 7,106 shares in the company, valued at approximately $1,684,548.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donna F. Zarcone bought 500 shares of the firm’s stock in a transaction on Tuesday, August 10th. The shares were purchased at an average price of $209.89 per share, for a total transaction of $104,945.00. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Cigna from $304.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 6th. Raymond James lowered their price objective on shares of Cigna from $317.00 to $275.00 and set a “strong-buy” rating for the company in a research report on Monday, August 9th. Oppenheimer cut their target price on Cigna from $300.00 to $285.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. Credit Suisse Group dropped their price objective on Cigna from $300.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, August 6th. Finally, Morgan Stanley decreased their target price on Cigna from $321.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $266.20.
Cigna Corp. engages in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.
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