Shares of Cigna Co. (NYSE:CI) reached a new 52-week high on Tuesday . The stock traded as high as $259.51 and last traded at $259.50, with a volume of 1867759 shares. The stock had previously closed at $252.05.
CI has been the subject of several research analyst reports. Mizuho upped their price objective on shares of Cigna from $229.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, March 9th. Truist Securities upped their price objective on shares of Cigna from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. Zacks Investment Research downgraded shares of Cigna from a “hold” rating to a “sell” rating and set a $242.00 price objective for the company. in a report on Monday, March 8th. Truist Financial upped their price objective on shares of Cigna from $280.00 to $300.00 in a report on Wednesday, April 14th. Finally, Truist upped their price objective on shares of Cigna from $260.00 to $280.00 in a report on Tuesday, March 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $260.65.
The company has a fifty day simple moving average of $246.28 and a 200-day simple moving average of $218.15. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.61. The stock has a market cap of $90.15 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.95 and a beta of 0.88.
Cigna (NYSE:CI) last posted its quarterly earnings data on Wednesday, February 3rd. The health services provider reported $3.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($0.17). The company had revenue of $41.71 billion for the quarter, compared to analyst estimates of $40.05 billion. Cigna had a return on equity of 15.39% and a net margin of 3.38%. Cigna’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.31 EPS. As a group, analysts anticipate that Cigna Co. will post 18.55 earnings per share for the current year.
The business 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 dividend of $1.00 per share. The ex-dividend date is Monday, June 7th. This represents a $4.00 annualized dividend and a yield of 1.54%. Cigna’s payout ratio is presently 23.46%.
In other news, CEO David Cordani sold 130,443 shares of the company’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $253.52, for a total value of $33,069,909.36. Following the transaction, the chief executive officer now owns 144,865 shares in the company, valued at approximately $36,726,174.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Wentworth sold 5,144 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 42,450 shares in the company, valued at approximately $8,701,401. The disclosure for this sale can be found here. Insiders sold a total of 192,372 shares of company stock worth $47,208,656 in the last quarter. 0.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Cigna by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,879,385 shares of the health services provider’s stock valued at $6,214,137,000 after buying an additional 122,245 shares in the last quarter. BlackRock Inc. grew its stake in shares of Cigna by 1.3% in the 4th quarter. BlackRock Inc. now owns 27,968,034 shares of the health services provider’s stock valued at $5,822,385,000 after buying an additional 366,443 shares in the last quarter. Dodge & Cox grew its stake in shares of Cigna by 3.8% in the 4th quarter. Dodge & Cox now owns 16,166,923 shares of the health services provider’s stock valued at $3,365,630,000 after buying an additional 588,589 shares in the last quarter. Sanders Capital LLC grew its stake in shares of Cigna by 14.9% in the 4th quarter. Sanders Capital LLC now owns 6,739,333 shares of the health services provider’s stock valued at $1,513,628,000 after buying an additional 873,228 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Cigna by 20.7% in the 4th quarter. Nuveen Asset Management LLC now owns 4,320,714 shares of the health services provider’s stock valued at $899,486,000 after buying an additional 739,993 shares in the last quarter. Institutional investors own 87.05% of the company’s stock.
Cigna Company Profile (NYSE:CI)
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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