Lincoln National Corp Increases Position in Cigna Co. (NYSE:CI)

Lincoln National Corp grew its stake in Cigna Co. (NYSE:CIGet Rating) by 15.4% during the third quarter, HoldingsChannel reports. The fund owned 5,822 shares of the health services provider’s stock after acquiring an additional 776 shares during the quarter. 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 and hedge funds have also made changes to their positions in CI. Castle Wealth Management LLC purchased a new position in Cigna during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC grew its stake in Cigna by 178.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock worth $29,000 after buying an additional 66 shares during the last quarter. Canton Hathaway LLC purchased a new position in Cigna during the 2nd quarter worth $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Cigna by 32.3% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 401 shares of the health services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Cigna during the 3rd quarter worth $34,000. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Cigna Stock Performance

Shares of CI stock opened at $308.17 on Tuesday. The stock has a market cap of $94.22 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The business has a 50-day simple moving average of $321.55 and a 200-day simple moving average of $301.28. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.62. Cigna Co. has a 52-week low of $213.16 and a 52-week high of $340.11.

Cigna (NYSE:CIGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The health services provider reported $6.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.34. The business had revenue of $45.36 billion during the quarter, compared to analysts’ expectations of $44.87 billion. Cigna had a return on equity of 15.94% and a net margin of 3.67%. On average, equities analysts expect that Cigna Co. will post 23.14 EPS for the current year.

Cigna Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CI shares. Wells Fargo & Company downgraded Cigna from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $370.00 to $355.00 in a research note on Tuesday, January 3rd. Credit Suisse Group boosted their target price on Cigna from $329.00 to $368.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th. Oppenheimer boosted their price target on Cigna from $320.00 to $360.00 in a research note on Friday, November 4th. Morgan Stanley boosted their price target on Cigna from $347.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Finally, SVB Leerink boosted their price target on Cigna from $305.00 to $335.00 and gave the company a “market perform” rating in a research note on Tuesday, November 8th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.45.

Cigna Profile

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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

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Co. (NYSE:CIGet Rating).

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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