Red Door Wealth Management LLC Boosts Stock Position in Cigna Co. (NYSE:CI)

Red Door Wealth Management LLC grew its holdings in Cigna Co. (NYSE:CIGet Rating) by 38.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,921 shares of the health services provider’s stock after buying an additional 818 shares during the quarter. Red Door Wealth Management LLC’s holdings in Cigna were worth $699,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. State Street Corp increased its position in shares of Cigna by 1.1% in the fourth quarter. State Street Corp now owns 14,982,346 shares of the health services provider’s stock valued at $3,440,396,000 after buying an additional 162,686 shares in the last quarter. Sanders Capital LLC boosted its stake in shares of Cigna by 0.9% in the fourth quarter. Sanders Capital LLC now owns 7,458,097 shares of the health services provider’s stock worth $1,883,007,000 after acquiring an additional 63,838 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cigna by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,428,675 shares of the health services provider’s stock worth $1,242,969,000 after acquiring an additional 41,696 shares during the last quarter. Norges Bank acquired a new stake in shares of Cigna in the fourth quarter worth approximately $747,950,000. Finally, Invesco Ltd. boosted its stake in shares of Cigna by 6.9% in the fourth quarter. Invesco Ltd. now owns 2,551,713 shares of the health services provider’s stock worth $585,950,000 after acquiring an additional 163,815 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

In other Cigna news, EVP Nicole S. Jones sold 12,070 shares of the stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $259.03, for a total transaction of $3,126,492.10. Following the completion of the sale, the executive vice president now directly owns 35,201 shares of the company’s stock, valued at approximately $9,118,115.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric P. Palmer sold 8,126 shares of the stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $250.00, for a total value of $2,031,500.00. Following the sale, the chief executive officer now directly owns 40,942 shares of the company’s stock, valued at $10,235,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,830 shares of company stock valued at $36,128,528. Insiders own 0.80% of the company’s stock.

NYSE:CI opened at $263.52 on Friday. The stock has a 50-day simple moving average of $258.31 and a 200-day simple moving average of $243.84. The stock has a market cap of $83.61 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.05 and a beta of 0.77. Cigna Co. has a 1 year low of $191.74 and a 1 year high of $273.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.70.

Cigna (NYSE:CIGet Rating) last released its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.88. The business had revenue of $44.01 billion during the quarter, compared to analysts’ expectations of $43.48 billion. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.73 EPS. On average, equities research analysts predict that Cigna Co. will post 22.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Wednesday, June 8th were given a $1.12 dividend. The ex-dividend date was Tuesday, June 7th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.70%. Cigna’s dividend payout ratio (DPR) is presently 27.79%.

A number of brokerages have recently issued reports on CI. BMO Capital Markets lifted their price target on Cigna from $300.00 to $320.00 in a research note on Monday, May 9th. Raymond James lifted their price target on Cigna from $275.00 to $300.00 in a research note on Tuesday, May 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $310.00 price target on shares of Cigna in a research note on Tuesday, June 7th. Stephens boosted their price objective on Cigna from $265.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. raised Cigna from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $248.00 to $304.00 in a research note on Monday, May 16th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.12.

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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