People s United Financial Inc. Reduces Stake in CIGNA Co. (CI)

People s United Financial Inc. decreased its holdings in CIGNA Co. (NYSE:CI) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,989 shares of the health services provider’s stock after selling 327 shares during the period. People s United Financial Inc.’s holdings in CIGNA were worth $3,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pennsylvania Trust Co increased its holdings in CIGNA by 1.2% in the third quarter. Pennsylvania Trust Co now owns 20,363 shares of the health services provider’s stock worth $4,241,000 after buying an additional 245 shares during the last quarter. Aviance Capital Partners LLC increased its holdings in CIGNA by 4.1% in the third quarter. Aviance Capital Partners LLC now owns 6,352 shares of the health services provider’s stock worth $1,323,000 after buying an additional 250 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in CIGNA by 8.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 3,662 shares of the health services provider’s stock worth $763,000 after buying an additional 292 shares during the last quarter. Boston Financial Mangement LLC increased its holdings in CIGNA by 15.8% in the second quarter. Boston Financial Mangement LLC now owns 2,315 shares of the health services provider’s stock worth $393,000 after buying an additional 315 shares during the last quarter. Finally, Burney Co. increased its holdings in CIGNA by 1.5% in the second quarter. Burney Co. now owns 21,718 shares of the health services provider’s stock worth $3,691,000 after buying an additional 318 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

In other news, insider Jason D. Sadler sold 21,189 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $212.99, for a total value of $4,513,045.11. Following the completion of the sale, the insider now directly owns 41,966 shares of the company’s stock, valued at $8,938,338.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Zollars sold 238 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $193.70, for a total value of $46,100.60. The disclosure for this sale can be found here. Insiders sold 24,252 shares of company stock valued at $5,164,402 over the last three months. 1.10% of the stock is owned by company insiders.

Shares of CI stock opened at $217.84 on Thursday. CIGNA Co. has a 12 month low of $163.02 and a 12 month high of $227.13. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $53.05 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.23 and a beta of 0.54.

CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.45 by $0.39. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The company had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the company posted $2.83 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CIGNA Co. will post 14.35 earnings per share for the current fiscal year.

CI has been the topic of a number of research reports. Zacks Investment Research downgraded CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. SunTrust Banks increased their price target on CIGNA and gave the company a “buy” rating in a report on Thursday, September 27th. ValuEngine upgraded CIGNA from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Barclays increased their price target on CIGNA from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Finally, Leerink Swann increased their price target on CIGNA from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, September 21st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $236.29.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2018/12/06/people-s-united-financial-inc-reduces-stake-in-cigna-co-ci.html.

CIGNA 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.

Featured Story: Outstanding Shares

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).

Institutional Ownership by Quarter for CIGNA (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.

Leave a Reply