Regent Investment Management LLC grew its position in Cigna Co. (NYSE:CI – Get Rating) by 16.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,165 shares of the health services provider’s stock after purchasing an additional 300 shares during the period. Regent Investment Management LLC’s holdings in Cigna were worth $571,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC lifted its stake in shares of Cigna by 2.7% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,425 shares of the health services provider’s stock worth $341,000 after buying an additional 38 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Cigna by 1.4% in the second quarter. Orion Portfolio Solutions LLC now owns 2,856 shares of the health services provider’s stock valued at $753,000 after purchasing an additional 40 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Cigna by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,593 shares of the health services provider’s stock worth $809,000 after acquiring an additional 44 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in Cigna by 6.9% in the 1st quarter. Financial Management Professionals Inc. now owns 684 shares of the health services provider’s stock valued at $164,000 after acquiring an additional 44 shares during the last quarter. Finally, Venture Visionary Partners LLC increased its holdings in shares of Cigna by 1.6% during the 1st quarter. Venture Visionary Partners LLC now owns 2,887 shares of the health services provider’s stock worth $691,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. SVB Leerink boosted their price objective on shares of Cigna from $276.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, August 10th. Credit Suisse Group raised their target price on shares of Cigna from $315.00 to $329.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Bank of America upgraded shares of Cigna from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $265.00 to $300.00 in a research note on Thursday, May 26th. Oppenheimer upped their price target on Cigna from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Finally, Loop Capital assumed coverage on Cigna in a research note on Thursday, June 16th. They set a “hold” rating and a $270.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.58.
Insider Activity at Cigna
Cigna Stock Down 2.7 %
Shares of NYSE:CI traded down $7.74 during trading on Friday, hitting $275.16. The company’s stock had a trading volume of 38,000 shares, compared to its average volume of 1,964,028. Cigna Co. has a fifty-two week low of $191.74 and a fifty-two week high of $296.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $83.96 billion, a PE ratio of 16.53, a P/E/G ratio of 1.11 and a beta of 0.71. The business has a 50 day moving average price of $283.36 and a two-hundred day moving average price of $265.05.
Cigna (NYSE:CI – Get Rating) last posted its earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.60. The company had revenue of $45.48 billion during the quarter, compared to the consensus estimate of $44.34 billion. Cigna had a return on equity of 15.91% and a net margin of 3.05%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.24 earnings per share. As a group, research analysts expect that Cigna Co. will post 22.94 EPS for the current fiscal year.
Cigna Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 6th. Cigna’s payout ratio is currently 26.71%.
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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