Ironwood Financial llc Raises Position in Cigna Co. (NYSE:CI)

Ironwood Financial llc lifted its stake in shares of Cigna Co. (NYSE:CI) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,044 shares of the health services provider’s stock after purchasing an additional 93 shares during the period. Ironwood Financial llc’s holdings in Cigna were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its stake in Cigna by 26.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,511 shares of the health services provider’s stock valued at $607,000 after buying an additional 522 shares in the last quarter. JustInvest LLC grew its stake in Cigna by 41.3% in the 1st quarter. JustInvest LLC now owns 4,531 shares of the health services provider’s stock valued at $1,095,000 after buying an additional 1,324 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Cigna by 17.4% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 1,383 shares of the health services provider’s stock valued at $334,000 after buying an additional 205 shares in the last quarter. Park Avenue Securities LLC grew its stake in Cigna by 5.5% in the 1st quarter. Park Avenue Securities LLC now owns 1,541 shares of the health services provider’s stock valued at $373,000 after buying an additional 81 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in Cigna by 13.3% in the 1st quarter. Lindbrook Capital LLC now owns 521 shares of the health services provider’s stock valued at $126,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 87.05% of the company’s stock.

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of Cigna from $280.00 to $300.00 in a report on Wednesday, April 14th. Truist Securities raised their price target on shares of Cigna from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Citigroup reaffirmed a “buy” rating and set a $273.00 price objective on shares of Cigna in a report on Friday, February 5th. Truist lifted their price objective on shares of Cigna from $260.00 to $280.00 in a report on Tuesday, March 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Cigna from $280.00 to $270.00 and set a “buy” rating for the company in a report on Friday, February 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $260.65.

In other news, CEO Timothy C. Wentworth sold 5,144 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $204.98, for a total value of $1,054,417.12. Following the transaction, the chief executive officer now owns 42,450 shares in the company, valued at $8,701,401. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Cordani sold 16,314 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $212.37, for a total transaction of $3,464,604.18. Following the completion of the transaction, the chief executive officer now owns 105,292 shares in the company, valued at approximately $22,360,862.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,372 shares of company stock worth $47,208,656. Insiders own 0.90% of the company’s stock.

Shares of NYSE CI traded up $4.39 during midday trading on Tuesday, hitting $256.44. 24,110 shares of the company traded hands, compared to its average volume of 1,801,535. Cigna Co. has a 12-month low of $158.84 and a 12-month high of $256.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day moving average price of $246.11 and a 200 day moving average price of $217.78. The firm has a market cap of $89.08 billion, a P/E ratio of 17.90, a P/E/G ratio of 0.95 and a beta of 0.88.

Cigna (NYSE:CI) last announced its quarterly earnings data on Wednesday, February 3rd. The health services provider reported $3.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.68 by ($0.17). The business had revenue of $41.71 billion during the quarter, compared to analysts’ expectations of $40.05 billion. Cigna had a return on equity of 15.39% and a net margin of 3.38%. Cigna’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.31 EPS. As a group, equities analysts expect that Cigna Co. will post 18.55 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Shareholders of record on Tuesday, June 8th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Monday, June 7th. Cigna’s dividend payout ratio (DPR) is presently 23.46%.

Cigna Profile

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, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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