FineMark National Bank & Trust decreased its position in shares of CIGNA Co. (NYSE:CI) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,756 shares of the health services provider’s stock after selling 1,865 shares during the period. FineMark National Bank & Trust’s holdings in CIGNA were worth $6,449,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Saratoga Research & Investment Management acquired a new stake in shares of CIGNA in the third quarter valued at approximately $112,000. Horan Capital Advisors LLC. bought a new position in CIGNA in the third quarter valued at approximately $123,000. Cerebellum GP LLC bought a new position in CIGNA in the fourth quarter valued at approximately $127,000. Grove Bank & Trust boosted its stake in CIGNA by 171.9% in the third quarter. Grove Bank & Trust now owns 976 shares of the health services provider’s stock valued at $182,000 after acquiring an additional 617 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in CIGNA in the third quarter valued at approximately $185,000. 88.60% of the stock is owned by institutional investors.
CIGNA Co. (NYSE CI) traded down $0.44 during midday trading on Wednesday, reaching $195.00. 140,114 shares of the company’s stock were exchanged, compared to its average volume of 1,497,240. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. The company has a market cap of $47,980.00, a P/E ratio of 21.32, a P/E/G ratio of 1.16 and a beta of 0.44. CIGNA Co. has a 52-week low of $141.93 and a 52-week high of $227.13.
CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.07. CIGNA had a net margin of 5.38% and a return on equity of 18.84%. The company had revenue of $10.53 billion during the quarter, compared to the consensus estimate of $10.28 billion. During the same quarter in the prior year, the firm posted $1.87 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. research analysts forecast that CIGNA Co. will post 12.9 earnings per share for the current fiscal year.
In related news, EVP John M. Murabito sold 28,037 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $205.68, for a total transaction of $5,766,650.16. Following the completion of the transaction, the executive vice president now directly owns 60,290 shares in the company, valued at approximately $12,400,447.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Muney sold 15,345 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $200.80, for a total transaction of $3,081,276.00. Following the transaction, the executive vice president now owns 28,457 shares of the company’s stock, valued at $5,714,165.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,663 shares of company stock valued at $13,329,903. 1.30% of the stock is currently owned by insiders.
CI has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley raised their price objective on shares of CIGNA to $255.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Citigroup raised their price objective on shares of CIGNA from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. ValuEngine upgraded shares of CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Credit Suisse Group started coverage on shares of CIGNA in a research note on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $210.12.
TRADEMARK VIOLATION NOTICE: “FineMark National Bank & Trust Sells 1,865 Shares of CIGNA Co. (CI)” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/14/finemark-national-bank-trust-lowers-stake-in-cigna-co-ci.html.
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
Receive News & Ratings for CIGNA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CIGNA and related companies with MarketBeat.com's FREE daily email newsletter.