HealthCor Management L.P. Takes Position in CIGNA Co. (CI)

HealthCor Management L.P. purchased a new position in CIGNA Co. (NYSE:CI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 600,000 shares of the health services provider’s stock, valued at approximately $124,950,000. CIGNA makes up about 4.1% of HealthCor Management L.P.’s investment portfolio, making the stock its 6th biggest holding. HealthCor Management L.P. owned 0.25% of CIGNA as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CI. FMR LLC increased its holdings in CIGNA by 18.6% in the third quarter. FMR LLC now owns 8,970,440 shares of the health services provider’s stock worth $1,868,093,000 after buying an additional 1,409,335 shares during the last quarter. Capital World Investors increased its holdings in CIGNA by 172.7% in the third quarter. Capital World Investors now owns 5,464,526 shares of the health services provider’s stock worth $1,137,988,000 after buying an additional 3,460,726 shares during the last quarter. Veritas Asset Management LLP increased its holdings in CIGNA by 5.1% in the third quarter. Veritas Asset Management LLP now owns 4,648,900 shares of the health services provider’s stock worth $968,133,000 after buying an additional 226,700 shares during the last quarter. Sanders Capital LLC increased its holdings in CIGNA by 4.6% in the third quarter. Sanders Capital LLC now owns 3,490,224 shares of the health services provider’s stock worth $797,672,000 after buying an additional 151,971 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in CIGNA in the third quarter worth approximately $682,210,000. 93.47% of the stock is owned by institutional investors and hedge funds.

In other news, insider Jason D. Sadler sold 21,189 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $212.99, for a total value of $4,513,045.11. Following the completion of the sale, the insider now directly owns 41,966 shares of the company’s stock, valued at $8,938,338.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael W. Triplett sold 2,825 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $214.25, for a total value of $605,256.25. Following the completion of the sale, the insider now directly owns 23,871 shares of the company’s stock, valued at $5,114,361.75. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Shares of CI stock opened at $205.37 on Friday. CIGNA Co. has a 12 month low of $163.02 and a 12 month high of $227.13. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $50.01 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.16 and a beta of 0.54.

CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.45 by $0.39. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The company had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the company posted $2.83 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CIGNA Co. will post 14.35 earnings per share for the current fiscal year.

A number of equities analysts recently commented on the company. Zacks Investment Research restated a “strong-buy” rating and issued a $246.00 price objective on shares of CIGNA in a report on Monday, November 12th. SunTrust Banks increased their price objective on CIGNA and gave the stock a “buy” rating in a report on Thursday, September 27th. Leerink Swann increased their price objective on CIGNA from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, September 21st. Barclays increased their price objective on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Finally, Credit Suisse Group increased their price objective on CIGNA from $223.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $239.79.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/12/16/healthcor-management-l-p-takes-position-in-cigna-co-ci.html.

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.

Featured Story: Balanced Fund

Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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.


Leave a Reply