Vaughan David Investments LLC IL Boosts Holdings in Cigna Co. (NYSE:CI)

Vaughan David Investments LLC IL boosted its position in shares of Cigna Co. (NYSE:CIGet Rating) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,657 shares of the health services provider’s stock after acquiring an additional 6,334 shares during the period. Vaughan David Investments LLC IL’s holdings in Cigna were worth $32,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cigna in the fourth quarter worth $747,950,000. Point72 Asset Management L.P. acquired a new stake in shares of Cigna in the fourth quarter worth $96,383,000. Invesco Ltd. increased 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 period. State Street Corp increased its stake 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 worth $3,440,396,000 after acquiring an additional 162,686 shares during the period. Finally, Swiss National Bank increased its stake in shares of Cigna by 11.0% in the first quarter. Swiss National Bank now owns 1,435,463 shares of the health services provider’s stock worth $343,951,000 after acquiring an additional 142,700 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insiders Place Their Bets

In other Cigna news, EVP Nicole S. Jones sold 5,901 shares of Cigna stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the transaction, the executive vice president now directly owns 36,908 shares of the company’s stock, valued at $9,965,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cigna news, EVP Nicole S. Jones sold 5,901 shares of Cigna stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $270.00, for a total transaction of $1,593,270.00. Following the transaction, the executive vice president now directly owns 36,908 shares of the company’s stock, valued at $9,965,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason D. Sadler sold 9,505 shares of Cigna stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $280.00, for a total transaction of $2,661,400.00. Following the transaction, the insider now directly owns 32,853 shares in the company, valued at $9,198,840. The disclosure for this sale can be found here. Insiders have sold 76,642 shares of company stock valued at $20,869,065 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CI shares. Cowen upgraded shares of Cigna from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $242.00 to $329.00 in a research note on Monday, May 9th. The Goldman Sachs Group increased their price objective on shares of Cigna from $273.00 to $311.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Cigna from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $248.00 to $304.00 in a research note on Monday, May 16th. Jefferies Financial Group restated a “hold” rating and set a $271.00 price target (down previously from $330.00) on shares of Cigna in a research report on Thursday, July 14th. Finally, Truist Financial raised their price target on shares of Cigna from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, July 14th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.17.

Cigna Price Performance

Shares of NYSE:CI traded up $6.05 during midday trading on Tuesday, hitting $287.82. The company’s stock had a trading volume of 37,554 shares, compared to its average volume of 1,922,763. The business’s 50 day simple moving average is $265.76 and its 200 day simple moving average is $252.09. 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 cap of $87.82 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. Cigna Co. has a 12-month low of $191.74 and a 12-month high of $284.46.

Cigna (NYSE:CIGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The health services provider reported $6.22 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.60. The firm had revenue of $45.48 billion for the quarter, compared to the consensus estimate of $44.34 billion. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $5.24 earnings per share. On average, analysts forecast that Cigna Co. will post 22.96 EPS for the current year.

Cigna Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, September 6th. Cigna’s dividend payout ratio is currently 26.71%.

About Cigna

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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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