Contravisory Investment Management Inc. Has $1.76 Million Stake in Cigna Corp (CI)

Contravisory Investment Management Inc. reduced its stake in shares of Cigna Corp (NYSE:CI) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,936 shares of the health services provider’s stock after selling 209 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Cigna were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. Clarfeld Financial Advisors LLC purchased a new stake in Cigna in the fourth quarter valued at approximately $25,000. 1 North Wealth Services LLC acquired a new position in shares of Cigna during the 4th quarter worth approximately $25,000. Private Ocean LLC acquired a new position in shares of Cigna during the 4th quarter worth approximately $26,000. Delta Asset Management LLC TN acquired a new position in shares of Cigna during the 4th quarter worth approximately $28,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Cigna during the 4th quarter worth approximately $30,000. 88.31% of the stock is owned by institutional investors and hedge funds.

CI traded up $3.22 during mid-day trading on Monday, hitting $163.82. 2,669,655 shares of the stock were exchanged, compared to its average volume of 2,784,611. Cigna Corp has a 1-year low of $158.00 and a 1-year high of $226.60. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.96. The firm has a market cap of $62.33 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.81 and a beta of 0.71.

Cigna (NYSE:CI) last posted its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.53 by ($0.07). The firm had revenue of $13.75 billion for the quarter, compared to analyst estimates of $11.38 billion. Cigna had a return on equity of 16.64% and a net margin of 5.42%. Cigna’s revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. On average, research analysts forecast that Cigna Corp will post 16.41 earnings per share for the current year.

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

In other Cigna news, insider Brian C. Evanko bought 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of $163.40 per share, with a total value of $326,800.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William D. Zollars sold 272 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. Insiders sold a total of 10,420 shares of company stock worth $1,886,122 in the last ninety days. 0.80% of the stock is owned by corporate insiders.

CI has been the subject of several research reports. Goldman Sachs Group reiterated a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Edward Jones initiated coverage on Cigna in a research report on Monday, December 24th. They set a “buy” rating and a $181.30 price target for the company. Credit Suisse Group reiterated a “buy” rating and set a $250.00 price target on shares of Cigna in a research report on Monday, January 7th. Barclays restated a “buy” rating and issued a $220.00 target price on shares of Cigna in a report on Sunday, January 6th. Finally, Zacks Investment Research upgraded Cigna from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $231.28.

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Cigna Company 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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