Los Angeles Capital Management LLC Sells 178,015 Shares of Cigna Co. (NYSE:CI)

Los Angeles Capital Management LLC decreased its position in shares of Cigna Co. (NYSE:CI) by 98.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,085 shares of the health services provider’s stock after selling 178,015 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cigna were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Adviser Investments LLC grew its position in shares of Cigna by 2.8% during the 3rd quarter. Adviser Investments LLC now owns 1,818 shares of the health services provider’s stock worth $364,000 after buying an additional 50 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Cigna by 10.5% during the 3rd quarter. Advisory Services Network LLC now owns 7,157 shares of the health services provider’s stock worth $1,433,000 after purchasing an additional 679 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in shares of Cigna by 5.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 8,946 shares of the health services provider’s stock worth $1,791,000 after purchasing an additional 488 shares during the last quarter. MUFG Americas Holdings Corp lifted its stake in shares of Cigna by 14.8% during the 3rd quarter. MUFG Americas Holdings Corp now owns 5,514 shares of the health services provider’s stock worth $1,104,000 after purchasing an additional 710 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its stake in shares of Cigna by 4.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 12,883 shares of the health services provider’s stock worth $2,578,000 after purchasing an additional 510 shares during the last quarter. 86.34% of the stock is currently owned by institutional investors and hedge funds.

CI has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on Cigna from $270.00 to $277.00 and gave the stock a “buy” rating in a research note on Friday, November 5th. Morgan Stanley cut Cigna from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $255.00 to $238.00 in a research note on Thursday, December 16th. The Goldman Sachs Group started coverage on Cigna in a research note on Tuesday, December 14th. They issued a “neutral” rating and a $233.00 price target for the company. Sanford C. Bernstein increased their price target on Cigna from $234.00 to $258.00 in a research note on Tuesday. Finally, Credit Suisse Group increased their price target on Cigna from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $262.04.

In other Cigna news, EVP Everett Neville sold 175 shares of the firm’s stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $240.00, for a total value of $42,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Cigna stock opened at $242.17 on Friday. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. Cigna Co. has a 52 week low of $191.74 and a 52 week high of $272.81. The business’s 50-day moving average price is $219.15 and its 200 day moving average price is $216.96. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.67.

Cigna (NYSE:CI) last posted its earnings results on Thursday, November 4th. The health services provider reported $5.73 EPS for the quarter, topping the consensus estimate of $5.23 by $0.50. Cigna had a return on equity of 13.72% and a net margin of 4.93%. The firm had revenue of $44.30 billion for the quarter, compared to analyst estimates of $42.88 billion. During the same period last year, the company earned $4.41 earnings per share. Cigna’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts expect that Cigna Co. will post 20.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 22nd. Shareholders of record on Tuesday, December 7th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.65%. The ex-dividend date was Monday, December 6th. Cigna’s payout ratio is currently 16.81%.

Cigna Company Profile

Cigna Corp. engages 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.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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