CIGNA Co. (CI) Position Lifted by Federated Investors Inc. PA

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Federated Investors Inc. PA lifted its stake in CIGNA Co. (NYSE:CI) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,364 shares of the health services provider’s stock after buying an additional 1,779 shares during the period. Federated Investors Inc. PA’s holdings in CIGNA were worth $7,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in shares of CIGNA by 1.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,869,196 shares of the health services provider’s stock worth $313,539,000 after purchasing an additional 26,729 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of CIGNA by 164.2% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 4,404 shares of the health services provider’s stock worth $739,000 after purchasing an additional 2,737 shares in the last quarter. Atria Investments LLC grew its holdings in shares of CIGNA by 14.4% during the 1st quarter. Atria Investments LLC now owns 4,095 shares of the health services provider’s stock worth $687,000 after purchasing an additional 515 shares in the last quarter. Commerce Bank grew its holdings in shares of CIGNA by 6.6% during the 1st quarter. Commerce Bank now owns 8,156 shares of the health services provider’s stock worth $1,368,000 after purchasing an additional 503 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of CIGNA by 213.6% during the 1st quarter. Victory Capital Management Inc. now owns 57,940 shares of the health services provider’s stock worth $9,719,000 after purchasing an additional 39,464 shares in the last quarter. 89.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CI stock opened at $188.59 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.35. CIGNA Co. has a twelve month low of $163.02 and a twelve month high of $227.13. The firm has a market cap of $45.07 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, August 2nd. The health services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.56. CIGNA had a return on equity of 22.27% and a net margin of 5.82%. The business had revenue of $11.50 billion during the quarter, compared to the consensus estimate of $11.20 billion. During the same period in the prior year, the company earned $2.91 EPS. CIGNA’s revenue for the quarter was up 10.9% on a year-over-year basis. research analysts expect that CIGNA Co. will post 13.87 earnings per share for the current fiscal year.

CI has been the topic of several analyst reports. SunTrust Banks increased their target price on CIGNA to $244.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Jefferies Financial Group reissued a “buy” rating and set a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. Goldman Sachs Group upgraded CIGNA from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $193.00 to $212.00 in a research report on Wednesday, June 6th. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Monday, May 28th. Finally, ValuEngine upgraded CIGNA from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $221.77.

In other news, CFO Eric P. Palmer bought 2,828 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was purchased at an average cost of $177.61 per share, for a total transaction of $502,281.08. Following the completion of the transaction, the chief financial officer now owns 9,678 shares of the company’s stock, valued at $1,718,909.58. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William D. Zollars sold 265 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $176.93, for a total value of $46,886.45. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

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.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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