Alps Advisors Inc. Trims Holdings in Cigna Corp (NYSE:CI)

Alps Advisors Inc. lessened its holdings in Cigna Corp (NYSE:CI) by 16.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,903 shares of the health services provider’s stock after selling 989 shares during the period. Alps Advisors Inc.’s holdings in Cigna were worth $744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Investment Management Inc. grew its position in Cigna by 4.7% during the third quarter. Thompson Investment Management Inc. now owns 23,106 shares of the health services provider’s stock valued at $3,507,000 after buying an additional 1,042 shares during the period. First Trust Advisors LP lifted its holdings in Cigna by 109.2% during the third quarter. First Trust Advisors LP now owns 119,301 shares of the health services provider’s stock valued at $18,109,000 after purchasing an additional 62,271 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Cigna by 5.2% during the third quarter. Daiwa Securities Group Inc. now owns 15,822 shares of the health services provider’s stock valued at $2,402,000 after purchasing an additional 781 shares in the last quarter. Broderick Brian C lifted its holdings in Cigna by 20.3% during the third quarter. Broderick Brian C now owns 3,848 shares of the health services provider’s stock valued at $584,000 after purchasing an additional 648 shares in the last quarter. Finally, Bartlett & Co. LLC lifted its holdings in Cigna by 141.9% during the third quarter. Bartlett & Co. LLC now owns 1,420 shares of the health services provider’s stock valued at $216,000 after purchasing an additional 833 shares in the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the stock. Stephens set a $225.00 price objective on shares of Cigna and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley raised their price target on shares of Cigna from $207.00 to $208.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Citigroup reissued a “buy” rating and issued a $221.00 price target (up from $203.00) on shares of Cigna in a research note on Tuesday, November 5th. BMO Capital Markets raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research note on Monday, September 30th. Finally, Deutsche Bank set a $210.00 price target on shares of Cigna and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $210.49.

Shares of CI stock traded up $1.41 during trading on Wednesday, reaching $196.74. The company’s stock had a trading volume of 1,706,483 shares, compared to its average volume of 2,395,294. Cigna Corp has a 1-year low of $141.95 and a 1-year high of $216.78. The stock’s 50-day moving average price is $185.59 and its 200 day moving average price is $165.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $74.66 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.01 and a beta of 0.75.

Cigna (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $4.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.17. Cigna had a net margin of 3.30% and a return on equity of 12.79%. The company had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $34.20 billion. During the same quarter in the previous year, the firm earned $3.84 earnings per share. The firm’s quarterly revenue was up 213.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cigna Corp will post 16.93 EPS for the current fiscal year.

In related news, CEO David Cordani acquired 32,509 shares of Cigna stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $155.17 per share, for a total transaction of $5,044,421.53. Also, Director John Partridge sold 3,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $203.70, for a total transaction of $672,210.00. Following the sale, the director now owns 29,180 shares of the company’s stock, valued at approximately $5,943,966. The disclosure for this sale can be found here. Insiders sold 22,692 shares of company stock valued at $4,544,074 in the last quarter. 0.80% of the stock is owned by insiders.

About Cigna

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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