Edmp Inc. raised its position in Cigna Co. (NYSE:CI) by 34.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,852 shares of the health services provider’s stock after purchasing an additional 1,239 shares during the quarter. Edmp Inc.’s holdings in Cigna were worth $1,173,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new position in Cigna during the 4th quarter valued at about $25,000. Front Row Advisors LLC raised its stake in shares of Cigna by 76.3% in the third quarter. Front Row Advisors LLC now owns 134 shares of the health services provider’s stock valued at $28,000 after acquiring an additional 58 shares in the last quarter. Addison Advisors LLC acquired a new position in Cigna during the 4th quarter worth $28,000. Chiron Capital Management LLC purchased a new stake in Cigna during the 3rd quarter worth about $29,000. Finally, Jeppson Wealth Management LLC acquired a new stake in Cigna in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 87.05% of the company’s stock.
In other Cigna news, EVP Nicole S. Jones sold 19,375 shares of the stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $251.51, for a total value of $4,873,006.25. Following the completion of the transaction, the executive vice president now directly owns 55,503 shares of the company’s stock, valued at $13,959,559.53. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Cordani sold 130,443 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $253.52, for a total value of $33,069,909.36. Following the completion of the sale, the chief executive officer now owns 144,865 shares in the company, valued at approximately $36,726,174.80. The disclosure for this sale can be found here. In the last three months, insiders sold 186,165 shares of company stock valued at $45,623,450. 0.90% of the stock is owned by corporate insiders.
Cigna (NYSE:CI) last issued its earnings results on Wednesday, February 3rd. The health services provider reported $3.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.17). Cigna had a return on equity of 15.39% and a net margin of 3.38%. The business had revenue of $41.71 billion for the quarter, compared to analysts’ expectations of $40.05 billion. During the same period last year, the company posted $4.31 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Cigna Co. will post 18.55 earnings per share for the current year.
A number of research analysts recently issued reports on CI shares. Mizuho lifted their price target on shares of Cigna from $229.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Cigna from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, February 5th. Truist increased their price target on shares of Cigna from $260.00 to $280.00 in a research note on Tuesday, March 9th. BMO Capital Markets lifted their price target on shares of Cigna from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 9th. Finally, Truist Financial upped their price objective on shares of Cigna from $280.00 to $300.00 in a research note on Wednesday, April 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $260.65.
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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