Means Investment CO. Inc. Makes New Investment in Cigna Co. (NYSE:CI)


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Means Investment CO. Inc. acquired a new position in shares of Cigna Co. (NYSE:CI) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 934 shares of the health services provider’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Norges Bank purchased a new position in shares of Cigna in the 4th quarter valued at $800,023,000. Sanders Capital LLC increased its holdings 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 acquiring an additional 873,228 shares during the period. Nuveen Asset Management LLC increased its holdings 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 acquiring an additional 739,993 shares during the period. Dodge & Cox increased its holdings 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 acquiring an additional 588,589 shares during the period. Finally, Viking Global Investors LP increased its holdings in shares of Cigna by 35.1% in the 4th quarter. Viking Global Investors LP now owns 1,953,869 shares of the health services provider’s stock valued at $406,756,000 after acquiring an additional 507,438 shares during the period. Institutional investors own 87.05% of the company’s stock.

In other Cigna news, CEO David Cordani sold 55,280 shares of the business’s stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $225.00, for a total transaction of $12,438,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicole S. Jones sold 2,527 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $212.37, for a total value of $536,658.99. Following the sale, the executive vice president now owns 42,065 shares of the company’s stock, valued at $8,933,344.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,399 shares of company stock valued at $34,096,430. 0.90% of the stock is owned by company insiders.

Shares of Cigna stock traded down $0.83 on Thursday, hitting $239.39. The company’s stock had a trading volume of 12,400 shares, compared to its average volume of 1,920,681. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.68. Cigna Co. has a 1 year low of $158.84 and a 1 year high of $248.84. The firm has a fifty day moving average price of $230.78 and a 200-day moving average price of $207.38. The company has a market capitalization of $83.16 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88.

Cigna (NYSE:CI) last announced its quarterly earnings results on Wednesday, February 3rd. The health services provider reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($0.17). Cigna had a net margin of 3.38% and a return on equity of 15.39%. The business had revenue of $41.71 billion during the quarter, compared to analysts’ expectations of $40.05 billion. During the same quarter in the prior year, the firm earned $4.31 EPS. Cigna’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts forecast that Cigna Co. will post 18.55 EPS for the current year.

CI has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Cigna from $258.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, February 8th. Truist raised their price objective on Cigna from $260.00 to $280.00 in a research report on Tuesday, March 9th. Mizuho raised their price objective on Cigna from $229.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on Cigna from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, February 5th. Finally, SVB Leerink raised their price objective on Cigna from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, December 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cigna has an average rating of “Buy” and a consensus target price of $254.44.

About Cigna

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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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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