Orion Portfolio Solutions LLC Acquires 718 Shares of Cigna Co. (NYSE:CI)

Orion Portfolio Solutions LLC increased its position in Cigna Co. (NYSE:CI) by 33.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,893 shares of the health services provider’s stock after buying an additional 718 shares during the period. Orion Portfolio Solutions LLC’s holdings in Cigna were worth $579,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Boston Common Asset Management LLC grew its stake in Cigna by 4.6% in the second quarter. Boston Common Asset Management LLC now owns 1,132 shares of the health services provider’s stock worth $268,000 after purchasing an additional 50 shares in the last quarter. Adviser Investments LLC boosted its position in Cigna by 2.8% during the 3rd quarter. Adviser Investments LLC now owns 1,818 shares of the health services provider’s stock valued at $364,000 after acquiring an additional 50 shares in the last quarter. NorthCoast Asset Management LLC lifted its holdings in shares of Cigna by 0.5% during the 2nd quarter. NorthCoast Asset Management LLC now owns 11,511 shares of the health services provider’s stock valued at $2,729,000 after purchasing an additional 52 shares during the last quarter. Sargent Bickham Lagudis LLC lifted its holdings in shares of Cigna by 4.9% during the 3rd quarter. Sargent Bickham Lagudis LLC now owns 1,189 shares of the health services provider’s stock valued at $238,000 after purchasing an additional 55 shares during the last quarter. Finally, Canandaigua National Corp raised its stake in Cigna by 0.4% in the 3rd quarter. Canandaigua National Corp now owns 13,229 shares of the health services provider’s stock worth $2,648,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 86.34% of the company’s stock.

In related news, EVP Everett Neville sold 175 shares of the business’s stock in a transaction dated Tuesday, January 11th. The stock was sold at an average price of $240.00, for a total value of $42,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by insiders.

Shares of CI opened at $242.17 on Friday. Cigna Co. has a twelve month low of $191.74 and a twelve month high of $272.81. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $219.15 and a 200-day moving average of $216.96. The stock has a market capitalization of $80.26 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.96 and a beta of 0.91.

Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, November 4th. The health services provider reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.50. Cigna had a return on equity of 13.72% and a net margin of 4.93%. The business had revenue of $44.30 billion during the quarter, compared to the consensus estimate of $42.88 billion. During the same quarter last year, the firm posted $4.41 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cigna Co. will post 20.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 22nd. Investors of record on Tuesday, December 7th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Monday, December 6th. Cigna’s dividend payout ratio (DPR) is presently 16.81%.

A number of research analysts have weighed in on the stock. Truist Securities raised their target price on shares of Cigna from $270.00 to $275.00 in a research note on Wednesday, January 5th. Mizuho dropped their price target on shares of Cigna from $267.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, December 20th. The Goldman Sachs Group assumed coverage on shares of Cigna in a research note on Tuesday, December 14th. They issued a “neutral” rating and a $233.00 price target for the company. Credit Suisse Group boosted their target price on shares of Cigna from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. Finally, Morgan Stanley downgraded shares of Cigna from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $255.00 to $238.00 in a research note on Thursday, December 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cigna has a consensus rating of “Buy” and a consensus target price of $262.04.

Cigna Company Profile

Cigna Corp. engages in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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