Raymond James Trust N.A. lessened its holdings in CIGNA Co. (NYSE:CI) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,545 shares of the health services provider’s stock after selling 468 shares during the quarter. Raymond James Trust N.A.’s holdings in CIGNA were worth $2,548,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of CIGNA in the fourth quarter worth $4,097,000. Public Employees Retirement Association of Colorado boosted its position in shares of CIGNA by 3.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 47,004 shares of the health services provider’s stock worth $9,546,000 after buying an additional 1,476 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of CIGNA by 42.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,449 shares of the health services provider’s stock worth $700,000 after buying an additional 1,033 shares during the period. Stuart Chaussee & Associates Inc. acquired a new stake in shares of CIGNA in the fourth quarter worth $122,000. Finally, Aperio Group LLC boosted its position in shares of CIGNA by 2.9% in the fourth quarter. Aperio Group LLC now owns 175,586 shares of the health services provider’s stock worth $35,660,000 after buying an additional 4,997 shares during the period. 88.04% of the stock is owned by institutional investors and hedge funds.
Shares of CIGNA Co. (CI) opened at $204.46 on Monday. CIGNA Co. has a 12-month low of $141.93 and a 12-month high of $227.13. The firm has a market capitalization of $49,881.50, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.30 and a beta of 0.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.39.
CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter in the previous year, the firm earned $1.87 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. sell-side analysts expect that CIGNA Co. will post 12.42 EPS for the current fiscal year.
Several analysts have recently commented on CI shares. Jefferies Group raised their target price on CIGNA from $221.00 to $231.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research cut CIGNA from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Morgan Stanley lifted their price objective on CIGNA to $255.00 and gave the company an “overweight” rating in a research report on Friday. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, BMO Capital Markets started coverage on CIGNA in a research report on Monday, October 16th. They set a “market perform” rating and a $210.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $210.12.
In other news, EVP John M. Murabito sold 28,037 shares of CIGNA stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total value of $5,766,650.16. Following the transaction, the executive vice president now directly owns 60,290 shares in the company, valued at $12,400,447.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Muney sold 15,345 shares of CIGNA stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the completion of the transaction, the executive vice president now owns 28,457 shares in the company, valued at $5,714,165.60. The disclosure for this sale can be found here. Insiders sold 75,655 shares of company stock valued at $15,503,365 in the last ninety days. Insiders own 1.30% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Stock Observer and is owned by of Stock Observer. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.thestockobserver.com/2018/02/05/cigna-co-ci-stake-lowered-by-raymond-james-trust-n-a.html.
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CIGNA Co. (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.