Lincoln National Corp Raises Stock Holdings in Cigna Co. (NYSE:CI)

Lincoln National Corp raised its stake in Cigna Co. (NYSE:CIGet Rating) by 15.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,822 shares of the health services provider’s stock after acquiring an additional 776 shares during the period. Lincoln National Corp’s holdings in Cigna were worth $1,615,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CI. FMR LLC grew its stake in shares of Cigna by 7.6% in the second quarter. FMR LLC now owns 14,279,334 shares of the health services provider’s stock worth $3,762,889,000 after acquiring an additional 1,012,086 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Cigna during the second quarter valued at $214,688,000. National Bank of Canada FI lifted its holdings in shares of Cigna by 451.9% during the third quarter. National Bank of Canada FI now owns 557,738 shares of the health services provider’s stock valued at $154,940,000 after purchasing an additional 456,688 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Cigna by 38.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,396,182 shares of the health services provider’s stock valued at $367,922,000 after purchasing an additional 385,525 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Cigna by 130.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 367,932 shares of the health services provider’s stock valued at $96,957,000 after purchasing an additional 208,455 shares in the last quarter. 87.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CI. Morgan Stanley upped their price target on Cigna from $347.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 6th. StockNews.com began coverage on Cigna in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Oppenheimer increased their target price on Cigna from $320.00 to $360.00 in a report on Friday, November 4th. Raymond James downgraded Cigna from a “strong-buy” rating to an “outperform” rating and set a $370.00 target price on the stock. in a report on Monday, November 21st. Finally, Mizuho increased their target price on Cigna from $330.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 10th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cigna has a consensus rating of “Moderate Buy” and a consensus price target of $329.45.

Cigna Stock Performance

NYSE:CI opened at $308.17 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. Cigna Co. has a 12-month low of $213.16 and a 12-month high of $340.11. The stock has a 50-day moving average price of $321.55 and a 200 day moving average price of $301.28. The stock has a market capitalization of $94.22 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.10 and a beta of 0.69.

Cigna (NYSE:CIGet Rating) last released its earnings results on Thursday, November 3rd. The health services provider reported $6.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.34. Cigna had a return on equity of 15.94% and a net margin of 3.67%. The firm had revenue of $45.36 billion during the quarter, compared to analysts’ expectations of $44.87 billion. Equities research analysts forecast that Cigna Co. will post 23.14 EPS for the current fiscal year.

Cigna Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Tuesday, December 6th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, December 5th. Cigna’s dividend payout ratio is currently 21.39%.

Insider Buying and Selling

In other Cigna news, EVP Cynthia Ryan sold 3,009 shares of the firm’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $327.95, for a total transaction of $986,801.55. Following the completion of the transaction, the executive vice president now owns 4,319 shares in the company, valued at approximately $1,416,416.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cigna news, EVP Cynthia Ryan sold 3,009 shares of the firm’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $327.95, for a total transaction of $986,801.55. Following the completion of the transaction, the executive vice president now owns 4,319 shares in the company, valued at approximately $1,416,416.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason D. Sadler sold 16,667 shares of the firm’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $333.88, for a total value of $5,564,777.96. Following the transaction, the insider now owns 35,750 shares of the company’s stock, valued at approximately $11,936,210. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

About Cigna

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Cigna Corp. is engaged 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.

See Also

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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