Cigna Co. (NYSE:CI) CEO David Cordani Sells 45,380 Shares

Cigna Co. (NYSE:CIGet Rating) CEO David Cordani sold 45,380 shares of the company’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $268.10, for a total value of $12,166,378.00. Following the completion of the sale, the chief executive officer now owns 152,750 shares of the company’s stock, valued at approximately $40,952,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Cordani also recently made the following trade(s):

  • On Monday, April 18th, David Cordani sold 3,717 shares of Cigna stock. The shares were sold at an average price of $260.89, for a total value of $969,728.13.
  • On Monday, February 28th, David Cordani sold 10,069 shares of Cigna stock. The shares were sold at an average price of $228.70, for a total value of $2,302,780.30.

CI opened at $255.06 on Friday. The firm has a market capitalization of $81.21 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.04 and a beta of 0.86. The stock’s 50 day moving average price is $241.95 and its two-hundred day moving average price is $227.45. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.66. Cigna Co. has a 12-month low of $191.74 and a 12-month high of $272.81.

Cigna (NYSE:CIGet Rating) last released its earnings results on Thursday, February 3rd. The health services provider reported $4.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.68 by $0.09. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $43.98 billion. Cigna had a return on equity of 14.59% and a net margin of 3.08%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.51 EPS. As a group, analysts anticipate that Cigna Co. will post 22.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Wednesday, March 9th were given a $1.12 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Cigna’s previous quarterly dividend of $1.00. Cigna’s dividend payout ratio (DPR) is currently 28.46%.

Several brokerages have recently commented on CI. SVB Leerink upped their target price on Cigna from $224.00 to $245.00 and gave the company a “market perform” rating in a report on Tuesday, February 22nd. Stephens upped their target price on Cigna from $265.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho upped their target price on Cigna from $245.00 to $266.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. Wells Fargo & Company raised Cigna from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $236.00 to $278.00 in a report on Thursday, January 6th. Finally, StockNews.com assumed coverage on Cigna in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cigna currently has a consensus rating of “Buy” and an average price target of $261.35.

Several hedge funds have recently made changes to their positions in CI. Sigma Planning Corp lifted its position in shares of Cigna by 121.6% in the 3rd quarter. Sigma Planning Corp now owns 3,116 shares of the health services provider’s stock worth $624,000 after acquiring an additional 1,710 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Cigna by 26.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 8,508 shares of the health services provider’s stock worth $1,703,000 after acquiring an additional 1,790 shares during the period. GWM Advisors LLC lifted its position in shares of Cigna by 587.8% during the 3rd quarter. GWM Advisors LLC now owns 6,053 shares of the health services provider’s stock worth $1,212,000 after buying an additional 5,173 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of Cigna during the 3rd quarter worth approximately $357,000. Finally, Independent Advisor Alliance lifted its position in shares of Cigna by 12.1% during the 3rd quarter. Independent Advisor Alliance now owns 1,268 shares of the health services provider’s stock worth $254,000 after buying an additional 137 shares during the period. Institutional investors own 86.39% of the company’s stock.

About Cigna (Get Rating)

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 delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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