Insider Selling: Cigna Co. (NYSE:CI) CEO Sells $969,728.13 in Stock

Cigna Co. (NYSE:CIGet Rating) CEO David Cordani sold 3,717 shares of the company’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $260.89, for a total value of $969,728.13. Following the completion of the transaction, the chief executive officer now directly owns 145,126 shares in the company, valued at approximately $37,861,922.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

  • On Wednesday, April 20th, David Cordani sold 45,380 shares of Cigna stock. The shares were sold at an average price of $268.10, for a total value of $12,166,378.00.
  • 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.

Cigna stock opened at $255.06 on Friday. The stock has a 50-day moving average of $241.95 and a two-hundred day moving average of $227.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.70 and a current ratio of 0.70. Cigna Co. has a one year low of $191.74 and a one year high of $272.81. The stock has a market cap of $81.21 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.04 and a beta of 0.86.

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

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

Several equities analysts have commented on CI shares. Morgan Stanley cut their price objective on Cigna from $238.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 10th. Truist Financial upped their price objective on Cigna from $275.00 to $290.00 in a research report on Thursday, April 7th. Wells Fargo & Company upgraded Cigna from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $236.00 to $278.00 in a report on Thursday, January 6th. Stephens upped their target price on Cigna from $265.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada cut Cigna from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $304.00 to $235.00 in a report on Monday, February 7th. One 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. According to data from MarketBeat.com, Cigna currently has a consensus rating of “Buy” and a consensus price target of $261.35.

Hedge funds have recently made changes to their positions in the company. Magnetar Financial LLC increased its holdings in shares of Cigna by 140.1% in the third quarter. Magnetar Financial LLC now owns 91,024 shares of the health services provider’s stock valued at $18,219,000 after purchasing an additional 53,117 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Cigna by 10.4% in the third quarter. Alliancebernstein L.P. now owns 1,277,730 shares of the health services provider’s stock valued at $255,750,000 after purchasing an additional 120,847 shares during the period. Kestra Advisory Services LLC increased its holdings in shares of Cigna by 3.8% in the fourth quarter. Kestra Advisory Services LLC now owns 18,572 shares of the health services provider’s stock valued at $4,265,000 after purchasing an additional 685 shares during the period. Holowesko Partners Ltd. increased its holdings in shares of Cigna by 5.6% in the third quarter. Holowesko Partners Ltd. now owns 60,400 shares of the health services provider’s stock valued at $12,090,000 after purchasing an additional 3,200 shares during the period. Finally, Quadrature Capital Ltd increased its holdings in shares of Cigna by 70.1% in the third quarter. Quadrature Capital Ltd now owns 51,888 shares of the health services provider’s stock valued at $10,386,000 after purchasing an additional 21,390 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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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