Motco Has $7.36 Million Stock Holdings in Cigna Co. (NYSE:CI)

Motco increased its position in shares of Cigna Co. (NYSE:CIGet Rating) by 1.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,061 shares of the health services provider’s stock after purchasing an additional 555 shares during the quarter. Motco’s holdings in Cigna were worth $7,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kings Point Capital Management grew its position in Cigna by 19.0% during the third quarter. Kings Point Capital Management now owns 295 shares of the health services provider’s stock worth $59,000 after buying an additional 47 shares in the last quarter. Leuthold Group LLC boosted its holdings in Cigna by 0.3% during the third quarter. Leuthold Group LLC now owns 15,585 shares of the health services provider’s stock valued at $3,119,000 after purchasing an additional 49 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Cigna by 2.1% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 2,329 shares of the health services provider’s stock valued at $535,000 after purchasing an additional 49 shares in the last quarter. Grove Bank & Trust boosted its holdings in Cigna by 3.3% during the fourth quarter. Grove Bank & Trust now owns 1,555 shares of the health services provider’s stock valued at $357,000 after purchasing an additional 49 shares in the last quarter. Finally, Adviser Investments LLC boosted its holdings in Cigna by 2.8% during the third quarter. Adviser Investments LLC now owns 1,818 shares of the health services provider’s stock valued at $364,000 after purchasing an additional 50 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. Truist Financial lifted their price objective on Cigna from $275.00 to $290.00 in a report on Thursday, April 7th. Stephens lifted their price objective on Cigna from $265.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Royal Bank of Canada cut shares of Cigna from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $304.00 to $235.00 in a research note on Monday, February 7th. StockNews.com started coverage on shares of Cigna in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Morgan Stanley cut their target price on shares of Cigna from $238.00 to $235.00 and set an “equal weight” rating for the company in a research note on Thursday, February 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cigna presently has an average rating of “Buy” and an average price target of $261.35.

CI traded down $7.46 during trading on Friday, reaching $246.78. 1,423,838 shares of the company’s stock were exchanged, compared to its average volume of 1,294,703. The company’s fifty day moving average price is $244.29 and its 200-day moving average price is $229.11. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.70 and a current ratio of 0.70. Cigna Co. has a fifty-two week low of $191.74 and a fifty-two week high of $272.81. The firm has a market capitalization of $78.57 billion, a PE ratio of 15.68, a P/E/G ratio of 1.01 and a beta of 0.86.

Cigna (NYSE:CIGet Rating) last released its earnings results on Thursday, February 3rd. The health services provider reported $4.77 EPS for the quarter, topping analysts’ consensus estimates of $4.68 by $0.09. Cigna had a net margin of 3.08% and a return on equity of 14.59%. The firm had revenue of $45.69 billion during the quarter, compared to analyst estimates of $43.98 billion. During the same quarter in the previous year, the business earned $3.51 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts forecast that Cigna Co. will post 22.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, June 7th. Cigna’s dividend payout ratio (DPR) is 28.46%.

In other news, CEO David Cordani sold 10,069 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $228.70, for a total value of $2,302,780.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric P. Palmer sold 8,126 shares of the business’s stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,031,500.00. Following the completion of the transaction, the chief executive officer now directly owns 40,942 shares of the company’s stock, valued at approximately $10,235,500. The disclosure for this sale can be found here. Insiders sold a total of 91,836 shares of company stock valued at $23,795,261 in the last three months. 0.80% of the stock is owned by company insiders.

Cigna Profile (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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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