GABELLI & Co INVESTMENT ADVISERS INC. Acquires New Position in CIGNA Co. (CI)

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GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in CIGNA Co. (NYSE:CI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,500 shares of the health services provider’s stock, valued at approximately $1,145,000.

Other institutional investors have also bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in CIGNA in the second quarter valued at about $102,000. Sun Life Financial INC increased its holdings in CIGNA by 254.3% in the second 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. LFA Lugano Financial Advisors SA bought a new stake in CIGNA in the third quarter valued at about $116,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in CIGNA by 3,122.7% in the second 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. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of CIGNA by 98.7% in the second quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock worth $133,000 after acquiring an additional 390 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

CI stock opened at $215.50 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market cap of $51.87 billion, a PE ratio of 20.60, a PEG ratio of 1.22 and a beta of 0.58. CIGNA Co. has a fifty-two week low of $163.02 and a fifty-two week high of $227.13.

CIGNA (NYSE:CI) last posted its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.39. The company had revenue of $11.45 billion during the quarter, compared to analysts’ expectations of $11.19 billion. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. CIGNA’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.83 earnings per share. As a group, equities research analysts anticipate that CIGNA Co. will post 14.35 EPS for the current fiscal year.

CI has been the subject of several recent analyst reports. Zacks Investment Research downgraded CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. Leerink Swann increased their price target 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 target on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday. SunTrust Banks increased their price target on CIGNA to $244.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Credit Suisse Group increased their price target on CIGNA from $223.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday, September 18th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. CIGNA has an average rating of “Buy” and an average target price of $233.14.

In other news, Director William D. Zollars sold 238 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total transaction of $46,100.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

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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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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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