Advisors Asset Management Inc. reduced its position in CIGNA Co. (NYSE:CI) by 55.3% in the 2nd quarter, Holdings Channel reports. The firm owned 1,325 shares of the health services provider’s stock after selling 1,636 shares during the period. Advisors Asset Management Inc.’s holdings in CIGNA were worth $225,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in CIGNA in the 2nd quarter valued at about $102,000. Sun Life Financial INC lifted its stake in CIGNA by 254.3% in the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after purchasing an additional 473 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in CIGNA by 3,122.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after purchasing an additional 687 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in CIGNA by 98.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock valued at $133,000 after purchasing an additional 390 shares during the last quarter. Finally, Adviser Investments LLC lifted its stake in CIGNA by 5,077.8% in the 2nd quarter. Adviser Investments LLC now owns 932 shares of the health services provider’s stock valued at $158,000 after purchasing an additional 914 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.
In other news, Director William D. Zollars sold 238 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $193.70, for a total transaction of $46,100.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael W. Triplett sold 2,825 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $214.25, for a total transaction of $605,256.25. Following the transaction, the insider now directly owns 23,871 shares in the company, valued at $5,114,361.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,252 shares of company stock worth $5,164,402. Insiders own 1.10% of the company’s stock.
Several brokerages recently issued reports on CI. Barclays raised their target price on shares of CIGNA from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Citigroup raised their target price on shares of CIGNA from $243.00 to $249.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. BMO Capital Markets raised their target price on shares of CIGNA from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, November 2nd. Zacks Investment Research downgraded shares of CIGNA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, SunTrust Banks raised their target price on shares of CIGNA and gave the company a “buy” rating in a research note on Thursday, September 27th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $233.14.
CIGNA stock opened at $217.65 on Friday. The stock has a market capitalization of $53.65 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.24 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. CIGNA Co. has a twelve month low of $163.02 and a twelve month high of $227.13.
CIGNA (NYSE:CI) last released its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.39. The firm had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.19 billion. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.83 EPS. As a group, equities analysts forecast that CIGNA Co. will post 14.35 earnings per share for the current fiscal year.
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CIGNA Company 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.
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