Virtus Fund Advisers LLC Cuts Holdings in CIGNA Co. (CI)

Virtus Fund Advisers LLC lessened its stake in CIGNA Co. (NYSE:CI) by 1.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 274,715 shares of the health services provider’s stock after selling 4,436 shares during the quarter. Virtus Fund Advisers LLC’s holdings in CIGNA were worth $55,792,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CI. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of CIGNA by 19.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,667 shares of the health services provider’s stock worth $339,000 after acquiring an additional 272 shares during the last quarter. Comerica Bank lifted its holdings in shares of CIGNA by 0.4% in the 3rd quarter. Comerica Bank now owns 62,611 shares of the health services provider’s stock worth $12,379,000 after acquiring an additional 274 shares during the last quarter. Investec Asset Management PTY Ltd lifted its holdings in shares of CIGNA by 3.4% in the 3rd quarter. Investec Asset Management PTY Ltd now owns 8,865 shares of the health services provider’s stock worth $1,645,000 after acquiring an additional 290 shares during the last quarter. Barton Investment Management lifted its holdings in shares of CIGNA by 9.6% in the 3rd quarter. Barton Investment Management now owns 3,425 shares of the health services provider’s stock worth $640,000 after acquiring an additional 300 shares during the last quarter. Finally, Bfsg LLC lifted its holdings in shares of CIGNA by 23.1% in the 4th quarter. Bfsg LLC now owns 1,642 shares of the health services provider’s stock worth $333,000 after acquiring an additional 308 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Shares of CIGNA Co. (CI) opened at $193.81 on Monday. CIGNA Co. has a 1-year low of $141.93 and a 1-year high of $227.13. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market cap of $47,283.25, a price-to-earnings ratio of 22.20, a P/E/G ratio of 1.16 and a beta of 0.45.

CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, beating 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 analyst estimates of $10.28 billion. During the same period in the prior year, the business posted $1.87 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. equities analysts anticipate that CIGNA Co. will post 12.9 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Morgan Stanley boosted 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 boosted 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 assumed coverage on shares of CIGNA in a report on Thursday, November 2nd. They issued an “outperform” rating and a $219.00 price objective for the company. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $210.12.

In other CIGNA news, Chairman Isaiah Harris, Jr. sold 212 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $209.35, for a total transaction of $44,382.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John M. Murabito sold 6,099 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $220.10, for a total transaction of $1,342,389.90. Following the transaction, the executive vice president now directly owns 68,026 shares in the company, valued at $14,972,522.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,663 shares of company stock worth $13,329,903. Insiders own 1.30% of the company’s stock.

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CIGNA Profile

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.

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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