First Manhattan Co. Has $1.35 Million Stake in Cigna Corp (CI)

First Manhattan Co. cut its stake in shares of Cigna Corp (NYSE:CI) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,365 shares of the health services provider’s stock after selling 79 shares during the period. First Manhattan Co.’s holdings in Cigna were worth $1,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Mackenzie Financial Corp boosted its stake in Cigna by 37.1% in the third quarter. Mackenzie Financial Corp now owns 43,952 shares of the health services provider’s stock worth $9,153,000 after buying an additional 11,890 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Cigna by 28.7% during the third quarter. Macquarie Group Ltd. now owns 245,210 shares of the health services provider’s stock valued at $51,065,000 after purchasing an additional 54,729 shares during the period. Resources Management Corp CT ADV purchased a new stake in shares of Cigna during the third quarter valued at approximately $188,000. Banco de Sabadell S.A purchased a new stake in shares of Cigna during the third quarter valued at approximately $1,596,000. Finally, M Holdings Securities Inc. boosted its stake in shares of Cigna by 31.0% during the third quarter. M Holdings Securities Inc. now owns 2,991 shares of the health services provider’s stock valued at $623,000 after purchasing an additional 708 shares during the period. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Shares of NYSE:CI opened at $151.04 on Wednesday. Cigna Corp has a 1-year low of $150.51 and a 1-year high of $226.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. The firm has a market cap of $62.26 billion, a PE ratio of 10.62, a P/E/G ratio of 0.81 and a beta of 0.71.

Cigna (NYSE:CI) last issued its quarterly earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.53 by ($0.07). Cigna had a net margin of 5.42% and a return on equity of 16.64%. The company had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. Cigna’s revenue was up 29.3% compared to the same quarter last year. On average, sell-side analysts predict that Cigna Corp will post 16.41 EPS for the current fiscal year.

The business also recently declared a special dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, March 11th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, March 8th. Cigna’s payout ratio is presently 0.28%.

In other news, Director John Partridge sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $184.43, for a total transaction of $184,430.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Zollars sold 272 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. Insiders have sold 10,420 shares of company stock valued at $1,886,122 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Cigna from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. ValuEngine upgraded Cigna from a “sell” rating to a “hold” rating in a report on Thursday, January 3rd. Raymond James upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $187.17 price objective for the company in a report on Thursday, January 3rd. Edward Jones started coverage on Cigna in a report on Monday, December 24th. They issued a “buy” rating and a $181.30 price objective for the company. Finally, Stephens started coverage on Cigna in a report on Monday, January 14th. They issued an “overweight” rating and a $251.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $231.28.

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Cigna Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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