Sowell Financial Services LLC Reduces Position in CIGNA Co. (CI)

Sowell Financial Services LLC lowered its holdings in shares of CIGNA Co. (NYSE:CI) by 45.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,803 shares of the health services provider’s stock after selling 1,495 shares during the period. Sowell Financial Services LLC’s holdings in CIGNA were worth $311,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CI. Financial Gravity Companies Inc. bought a new stake in CIGNA during the fourth quarter worth about $112,000. Synovus Financial Corp bought a new position in shares of CIGNA in the first quarter worth approximately $115,000. Signaturefd LLC bought a new position in shares of CIGNA in the first quarter worth approximately $115,000. Elmwood Wealth Management Inc. bought a new position in shares of CIGNA in the first quarter worth approximately $117,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of CIGNA in the fourth quarter worth approximately $122,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.

In other CIGNA news, insider Christopher J. Hocevar sold 2,759 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.84, for a total transaction of $529,286.56. Following the completion of the sale, the insider now directly owns 12,784 shares of the company’s stock, valued at $2,452,482.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicole S. Jones sold 5,856 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $190.68, for a total transaction of $1,116,622.08. Following the sale, the executive vice president now directly owns 36,658 shares of the company’s stock, valued at $6,989,947.44. The disclosure for this sale can be found here. Insiders have sold 45,384 shares of company stock valued at $8,693,791 over the last three months. 1.10% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on CI shares. Credit Suisse Group upped their target price on shares of CIGNA from $215.00 to $218.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Zacks Investment Research downgraded shares of CIGNA from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Oppenheimer upped their target price on shares of CIGNA to $237.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Barclays started coverage on shares of CIGNA in a research note on Thursday, March 8th. They issued an “overweight” rating and a $235.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of CIGNA in a research note on Tuesday, March 13th. They issued a “market perform” rating and a $194.00 target price on the stock. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. CIGNA currently has a consensus rating of “Buy” and an average target price of $212.50.

CIGNA opened at $175.90 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.35 and a quick ratio of 0.35. CIGNA Co. has a twelve month low of $159.91 and a twelve month high of $227.13. The company has a market cap of $42.79 billion, a PE ratio of 16.82, a P/E/G ratio of 1.08 and a beta of 0.59.

CIGNA (NYSE:CI) last released its quarterly earnings data on Thursday, May 3rd. The health services provider reported $4.11 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.72. CIGNA had a net margin of 5.99% and a return on equity of 20.90%. The firm had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $10.97 billion. During the same period in the previous year, the company earned $2.77 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. research analysts predict that CIGNA Co. will post 13.23 EPS for the current fiscal year.

CIGNA Profile

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.

Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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