Cullen Frost Bankers Inc. Raises Stake in Cigna Corp (CI)

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Cullen Frost Bankers Inc. lifted its stake in shares of Cigna Corp (NYSE:CI) by 42.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,005 shares of the health services provider’s stock after acquiring an additional 2,670 shares during the period. Cullen Frost Bankers Inc.’s holdings in Cigna were worth $1,710,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Cigna by 42,687.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after purchasing an additional 31,678,514 shares during the last quarter. Vanguard Group Inc lifted its stake in Cigna by 1.5% in the third quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock valued at $3,706,967,000 after acquiring an additional 260,042 shares during the last quarter. FMR LLC lifted its stake in Cigna by 18.6% in the third quarter. FMR LLC now owns 8,970,440 shares of the health services provider’s stock valued at $1,868,093,000 after acquiring an additional 1,409,335 shares during the last quarter. Capital World Investors lifted its stake 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 valued at $1,137,988,000 after acquiring an additional 3,460,726 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its stake 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 valued at $968,133,000 after acquiring an additional 226,700 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

In related news, Director William D. Zollars sold 201 shares of the firm’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $210.84, for a total transaction of $42,378.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael W. Triplett sold 9,148 shares of the firm’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $181.01, for a total transaction of $1,655,879.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,349 shares of company stock valued at $1,882,688. 1.10% of the stock is currently owned by corporate insiders.

CI has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Cigna in a research note on Thursday, December 13th. They issued an “overweight” rating and a $304.00 price target for the company. Goldman Sachs Group reiterated a “buy” rating on shares of Cigna in a research note on Saturday, February 2nd. Barclays reiterated a “buy” rating and issued a $220.00 price target on shares of Cigna in a research note on Sunday, January 6th. Edward Jones initiated coverage on shares of Cigna in a research note on Wednesday, January 2nd. They issued a “buy” rating for the company. Finally, Wells Fargo & Co cut their price target on shares of Cigna from $221.00 to $200.00 and set a “market perform” rating for the company in a research note on Thursday, January 3rd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $229.09.

NYSE CI opened at $194.12 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. The stock has a market cap of $48.29 billion, a PE ratio of 13.87, a P/E/G ratio of 0.98 and a beta of 0.72. Cigna Corp has a 52-week low of $163.02 and a 52-week high of $226.60.

Cigna (NYSE:CI) last posted its earnings results on Friday, February 1st. The health services provider reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.53 by ($0.07). The company had revenue of $13.75 billion for the quarter, compared to analyst estimates of $11.38 billion. Cigna had a return on equity of 16.64% and a net margin of 5.42%. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 EPS. As a group, equities research analysts expect that Cigna Corp will post 16.4 earnings per share for the current 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.

See Also: Mutual Funds

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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