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Brandes Investment Partners LP Has $130.70 Million Stake in Cigna Co. (NYSE:CI)

Brandes Investment Partners LP cut its position in shares of Cigna Co. (NYSE:CIGet Rating) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 471,021 shares of the health services provider’s stock after selling 32,258 shares during the quarter. Cigna makes up about 3.4% of Brandes Investment Partners LP’s holdings, making the stock its 2nd biggest position. Brandes Investment Partners LP owned approximately 0.15% of Cigna worth $130,695,000 at the end of the most recent reporting period.

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Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Cigna by 7.6% during the second quarter. FMR LLC now owns 14,279,334 shares of the health services provider’s stock worth $3,762,889,000 after purchasing an additional 1,012,086 shares during the last quarter. Amundi boosted its stake in Cigna by 7.6% in the second quarter. Amundi now owns 2,132,943 shares of the health services provider’s stock valued at $564,239,000 after acquiring an additional 150,412 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cigna by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,808,135 shares of the health services provider’s stock valued at $433,248,000 after acquiring an additional 28,643 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Cigna by 38.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,396,182 shares of the health services provider’s stock valued at $367,922,000 after acquiring an additional 385,525 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Cigna by 8.0% in the second quarter. Russell Investments Group Ltd. now owns 940,709 shares of the health services provider’s stock valued at $248,057,000 after acquiring an additional 69,304 shares during the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CI shares. SVB Leerink boosted their target price on shares of Cigna from $305.00 to $335.00 and gave the company a “market perform” rating in a research note on Tuesday, November 8th. Wells Fargo & Company cut shares of Cigna from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $370.00 to $355.00 in a research note on Tuesday, January 3rd. StockNews.com started coverage on shares of Cigna in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Raymond James cut shares of Cigna from a “strong-buy” rating to an “outperform” rating and set a $370.00 price target on the stock. in a research note on Monday, November 21st. Finally, Morgan Stanley upped their price target on shares of Cigna from $347.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.45.

Cigna Trading Up 1.3 %

Shares of NYSE:CI traded up $3.99 on Monday, hitting $314.21. The company had a trading volume of 71,856 shares, compared to its average volume of 1,987,044. The firm’s 50-day simple moving average is $322.48 and its two-hundred day simple moving average is $299.50. Cigna Co. has a 1 year low of $213.16 and a 1 year high of $340.11. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $96.07 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.13 and a beta of 0.69.

Cigna (NYSE:CIGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The health services provider reported $6.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.34. The company had revenue of $45.36 billion during the quarter, compared to analyst estimates of $44.87 billion. Cigna had a net margin of 3.67% and a return on equity of 15.94%. Equities analysts anticipate that Cigna Co. will post 23.13 earnings per share for the current fiscal 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 paid a $1.12 dividend. The ex-dividend date of this dividend was Monday, December 5th. This represents a $4.48 annualized dividend and a dividend yield of 1.43%. Cigna’s payout ratio is 21.39%.

Cigna Company Profile

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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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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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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