Brinker Capital Inc. Grows Stock Position in Cigna Corp (NYSE:CI)

Brinker Capital Inc. lifted its stake in Cigna Corp (NYSE:CI) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,169 shares of the health services provider’s stock after buying an additional 2,770 shares during the period. Brinker Capital Inc.’s holdings in Cigna were worth $11,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Profund Advisors LLC increased its holdings in shares of Cigna by 10.1% in the 4th quarter. Profund Advisors LLC now owns 10,658 shares of the health services provider’s stock valued at $2,179,000 after purchasing an additional 981 shares in the last quarter. Intact Investment Management Inc. boosted its position in shares of Cigna by 100.0% during the 4th quarter. Intact Investment Management Inc. now owns 4,600 shares of the health services provider’s stock valued at $940,000 after purchasing an additional 2,300 shares in the last quarter. Bronson Point Management LLC bought a new stake in shares of Cigna during the 4th quarter valued at about $7,157,000. Belpointe Asset Management LLC boosted its position in shares of Cigna by 28.0% during the 4th quarter. Belpointe Asset Management LLC now owns 1,048 shares of the health services provider’s stock valued at $215,000 after purchasing an additional 229 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Cigna by 27.3% during the 4th quarter. Alliancebernstein L.P. now owns 2,187,564 shares of the health services provider’s stock valued at $447,335,000 after purchasing an additional 469,373 shares in the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.

CI has been the topic of several research analyst reports. Stephens upped their target price on Cigna from $242.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Citigroup upped their price target on Cigna from $221.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on Cigna from $225.00 to $282.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Raymond James raised Cigna from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Wells Fargo & Co downgraded Cigna from a “market perform” rating to an “underperform” rating and set a $181.00 price objective for the company. in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $238.65.

Cigna stock traded up $3.81 during mid-day trading on Thursday, hitting $160.63. The stock had a trading volume of 498,355 shares, compared to its average volume of 4,169,551. The firm has a market capitalization of $58.32 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.70 and a beta of 0.72. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $191.41 and its 200 day moving average is $186.35. Cigna Corp has a one year low of $118.50 and a one year high of $224.64.

Cigna (NYSE:CI) last issued its earnings results on Thursday, February 6th. The health services provider reported $4.31 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.11. Cigna had a net margin of 3.32% and a return on equity of 14.69%. The company had revenue of $36.54 billion during the quarter, compared to the consensus estimate of $35.20 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. Cigna’s quarterly revenue was up 165.7% compared to the same quarter last year. As a group, equities research analysts forecast that Cigna Corp will post 18.52 earnings per share for the current year.

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.04 per share. This represents a dividend yield of 0.02%. The ex-dividend date of this dividend is Monday, March 9th. Cigna’s dividend payout ratio (DPR) is presently 0.23%.

In other Cigna news, EVP Steven B. Miller sold 7,145 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $212.15, for a total transaction of $1,515,811.75. Following the completion of the transaction, the executive vice president now owns 32,071 shares in the company, valued at approximately $6,803,862.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy C. Wentworth sold 21,708 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $209.73, for a total transaction of $4,552,818.84. Following the transaction, the insider now owns 70,374 shares of the company’s stock, valued at approximately $14,759,539.02. The disclosure for this sale can be found here. Insiders have sold a total of 74,397 shares of company stock valued at $14,922,093 in the last three months. Insiders own 0.90% of the company’s stock.

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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