Argent Trust Co Cuts Position in Cigna Corp (NYSE:CI)

Argent Trust Co trimmed its stake in Cigna Corp (NYSE:CI) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,212 shares of the health services provider’s stock after selling 473 shares during the period. Argent Trust Co’s holdings in Cigna were worth $1,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Braun Bostich & Associates Inc. purchased a new position in Cigna in the fourth quarter valued at about $26,000. Truvestments Capital LLC bought a new stake in shares of Cigna in the 1st quarter valued at about $28,000. 1776 Wealth LLC purchased a new position in shares of Cigna in the 1st quarter worth approximately $32,000. Procyon Private Wealth Partners LLC purchased a new position in shares of Cigna in the 4th quarter worth approximately $35,000. Finally, Wealth Quarterback LLC bought a new position in shares of Cigna during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

In related news, CEO David Cordani sold 22,582 shares of Cigna stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $188.54, for a total transaction of $4,257,610.28. Following the completion of the transaction, the chief executive officer now directly owns 34,592 shares in the company, valued at $6,521,975.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John M. Murabito sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $209.00, for a total value of $2,090,000.00. Following the completion of the transaction, the executive vice president now directly owns 60,969 shares of the company’s stock, valued at $12,742,521. The disclosure for this sale can be found here. In the last three months, insiders sold 119,746 shares of company stock valued at $23,449,093. Insiders own 0.90% of the company’s stock.

Several research firms have issued reports on CI. Barclays cut their price target on shares of Cigna from $232.00 to $229.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Evercore ISI started coverage on Cigna in a research note on Friday, February 7th. They set a “hold” rating and a $230.00 target price on the stock. SunTrust Banks reduced their target price on Cigna from $280.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. ValuEngine downgraded Cigna from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on shares of Cigna from $251.00 to $258.00 and gave the company an “overweight” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Cigna presently has an average rating of “Buy” and an average price target of $241.43.

Shares of CI stock traded up $0.32 during trading hours on Friday, hitting $189.00. The company’s stock had a trading volume of 818,668 shares, compared to its average volume of 1,479,482. The stock has a market cap of $69.62 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.92 and a beta of 0.68. Cigna Corp has a 12-month low of $118.50 and a 12-month high of $224.64. The company has a 50 day moving average of $185.09 and a 200 day moving average of $192.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.71.

Cigna (NYSE:CI) last posted its earnings results on Thursday, April 30th. The health services provider reported $4.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.34. The company had revenue of $38.39 billion during the quarter, compared to the consensus estimate of $37.09 billion. Cigna had a net margin of 3.19% and a return on equity of 15.05%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.90 earnings per share. As a group, analysts anticipate that Cigna Corp will post 18.41 earnings per share for the current fiscal year.

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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