Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 642 Shares of Cigna Corp (NYSE:CI)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Cigna Corp (NYSE:CI) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,594 shares of the health services provider’s stock after purchasing an additional 642 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cigna were worth $13,394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CI. National Asset Management Inc. raised its position in shares of Cigna by 24.5% in the 1st quarter. National Asset Management Inc. now owns 1,517 shares of the health services provider’s stock worth $270,000 after acquiring an additional 299 shares in the last quarter. Trust Co. of Virginia VA grew its stake in Cigna by 8.0% during the first quarter. Trust Co. of Virginia VA now owns 7,031 shares of the health services provider’s stock worth $1,246,000 after purchasing an additional 520 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Cigna by 1.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,449 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 88 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Cigna by 34.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 19,455 shares of the health services provider’s stock worth $3,447,000 after purchasing an additional 4,950 shares in the last quarter. Finally, AGF Investments Inc. lifted its stake in Cigna by 1.8% in the first quarter. AGF Investments Inc. now owns 128,261 shares of the health services provider’s stock valued at $22,725,000 after buying an additional 2,261 shares during the period. Institutional investors own 89.71% of the company’s stock.

In related news, Director William L. Roper sold 2,819 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $192.07, for a total value of $541,445.33. Following the transaction, the director now owns 10,442 shares in the company, valued at $2,005,594.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 22,582 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $188.54, for a total value of $4,257,610.28. Following the transaction, the chief executive officer now directly owns 34,592 shares of the company’s stock, valued at $6,521,975.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,746 shares of company stock valued at $23,449,093. 0.90% of the stock is owned by company insiders.

Several analysts have recently weighed in on CI shares. Barclays lowered their price objective on shares of Cigna from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Evercore ISI initiated coverage on shares of Cigna in a research note on Friday, February 7th. They issued a “hold” rating and a $230.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Cigna from $249.00 to $266.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Piper Sandler upped their price target on Cigna from $236.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Goldman Sachs Group restated a “buy” rating and set a $245.00 price objective on shares of Cigna in a report on Monday, January 27th. Two 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 stock. The stock currently has an average rating of “Buy” and an average target price of $241.43.

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

Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, April 30th. The health services provider reported $4.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.35 by $0.34. Cigna had a return on equity of 15.05% and a net margin of 3.19%. The business had revenue of $38.39 billion for the quarter, compared to analysts’ expectations of $37.09 billion. During the same quarter in the previous year, the firm earned $3.90 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Cigna Corp will post 18.41 EPS for the current year.

About Cigna

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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