Apollon Wealth Management LLC Increases Stock Position in Cigna Co. (NYSE:CI)

Apollon Wealth Management LLC increased its position in Cigna Co. (NYSE:CI) by 4.5% in the second quarter, Holdings Channel.com reports. The fund owned 3,113 shares of the health services provider’s stock after purchasing an additional 135 shares during the period. Apollon Wealth Management LLC’s holdings in Cigna were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sanders Capital LLC raised its holdings in Cigna by 3.1% in the 2nd quarter. Sanders Capital LLC now owns 7,016,305 shares of the health services provider’s stock worth $1,826,706,000 after acquiring an additional 208,322 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Cigna by 1.8% in the 1st quarter. Nuveen Asset Management LLC now owns 4,744,495 shares of the health services provider’s stock worth $1,146,935,000 after acquiring an additional 85,330 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cigna by 13.0% during the 1st quarter. Bank of New York Mellon Corp now owns 3,466,969 shares of the health services provider’s stock valued at $838,105,000 after buying an additional 398,099 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Cigna by 6.8% during the 1st quarter. Ameriprise Financial Inc. now owns 3,284,625 shares of the health services provider’s stock valued at $794,023,000 after buying an additional 210,003 shares during the period. Finally, Putnam Investments LLC lifted its holdings in shares of Cigna by 3.2% during the 1st quarter. Putnam Investments LLC now owns 2,003,728 shares of the health services provider’s stock valued at $484,381,000 after buying an additional 61,588 shares during the period. Institutional investors own 87.06% of the company’s stock.

Shares of Cigna stock opened at $203.89 on Monday. The firm has a market cap of $69.34 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 0.91 and a beta of 0.88. The business has a 50-day moving average price of $214.60 and a 200-day moving average price of $235.45. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.65. Cigna Co. has a twelve month low of $159.00 and a twelve month high of $272.81.

Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, August 5th. The health services provider reported $5.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.96 by $0.28. The firm had revenue of $43.13 billion during the quarter, compared to analyst estimates of $41.17 billion. Cigna had a return on equity of 13.02% and a net margin of 4.89%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.81 earnings per share. On average, equities analysts expect that Cigna Co. will post 20.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 23rd. Investors of record on Wednesday, September 8th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Tuesday, September 7th. Cigna’s payout ratio is 21.68%.

Several equities analysts have recently weighed in on CI shares. Bank of America cut Cigna from a “buy” rating to an “underperform” rating and lowered their price target for the company from $240.00 to $225.00 in a report on Friday, September 10th. Truist lowered their price target on Cigna from $320.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 6th. Mizuho lowered their price target on Cigna from $290.00 to $267.00 and set a “buy” rating on the stock in a report on Friday, August 6th. Oppenheimer lowered their price target on Cigna from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Friday, August 6th. Finally, Cowen assumed coverage on Cigna in a research note on Thursday, September 9th. They issued a “market perform” rating and a $235.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $265.20.

In other Cigna news, Director Donna F. Zarcone purchased 500 shares of the stock in a transaction that occurred on Tuesday, August 10th. The stock was purchased at an average price of $209.89 per share, with a total value of $104,945.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Cigna 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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