Truvestments Capital LLC Buys Shares of 231 Cigna Corp (CI)

Truvestments Capital LLC bought a new stake in Cigna Corp (NYSE:CI) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 231 shares of the health services provider’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Oregon Public Employees Retirement Fund lifted its position in Cigna by 42,687.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after acquiring an additional 31,678,514 shares during the period. BlackRock Inc. lifted its holdings in shares of Cigna by 59.4% in the 4th quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock valued at $5,107,369,000 after buying an additional 10,021,719 shares during the period. Vanguard Group Inc lifted its holdings in shares of Cigna by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock valued at $3,706,967,000 after buying an additional 260,042 shares during the period. FMR LLC lifted its holdings in shares of Cigna by 12.1% in the 4th quarter. FMR LLC now owns 10,057,798 shares of the health services provider’s stock valued at $1,910,176,000 after buying an additional 1,087,358 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Cigna by 26.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,891,910 shares of the health services provider’s stock valued at $1,308,914,000 after buying an additional 1,445,822 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Brian C. Evanko bought 2,000 shares of Cigna stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $163.40 per share, for a total transaction of $326,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael W. Triplett sold 9,148 shares of Cigna stock in a transaction on Monday, February 11th. The shares were sold at an average price of $181.01, for a total value of $1,655,879.48. The disclosure for this sale can be found here. Insiders sold 10,420 shares of company stock worth $1,886,122 in the last quarter. 0.80% of the stock is owned by insiders.

Several research firms have recently commented on CI. Zacks Investment Research cut Cigna from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut Cigna from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Morgan Stanley reduced their price target on Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a report on Tuesday, February 5th. Goldman Sachs Group reissued a “buy” rating on shares of Cigna in a report on Saturday, February 2nd. Finally, Stephens initiated coverage on Cigna in a research note on Monday, January 14th. They issued an “overweight” rating and a $251.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Cigna currently has an average rating of “Buy” and an average target price of $231.28.

Shares of NYSE:CI opened at $151.04 on Wednesday. The firm has a market capitalization of $62.26 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. Cigna Corp has a 52 week low of $150.51 and a 52 week high of $226.60.

Cigna (NYSE:CI) last announced its quarterly earnings data on Friday, February 1st. The health services provider reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.53 by ($0.07). The business had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $11.38 billion. Cigna had a net margin of 5.42% and a return on equity of 16.64%. Cigna’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 EPS. On average, research analysts anticipate that Cigna Corp will post 16.41 earnings per share for the current fiscal year.

The company also recently announced a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were issued a $0.04 dividend. The ex-dividend date was Friday, March 8th. Cigna’s payout ratio is currently 0.28%.

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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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