E&G Advisors LP Reduces Position in Cigna Corp (NYSE:CI)

E&G Advisors LP trimmed its position in shares of Cigna Corp (NYSE:CI) by 65.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,000 shares of the health services provider’s stock after selling 3,800 shares during the quarter. E&G Advisors LP’s holdings in Cigna were worth $322,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CI. Gulf International Bank UK Ltd boosted its stake in Cigna by 0.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 88,401 shares of the health services provider’s stock worth $14,216,000 after purchasing an additional 245 shares during the period. Cobiz Wealth LLC boosted its stake in Cigna by 4.7% in the 1st quarter. Cobiz Wealth LLC now owns 49,627 shares of the health services provider’s stock worth $7,981,000 after purchasing an additional 2,238 shares during the period. Oakbrook Investments LLC boosted its stake in Cigna by 59.2% in the 1st quarter. Oakbrook Investments LLC now owns 20,258 shares of the health services provider’s stock worth $3,258,000 after purchasing an additional 7,537 shares during the period. Pennsylvania Trust Co bought a new stake in shares of Cigna during the 1st quarter valued at about $2,963,000. Finally, IFM Investors Pty Ltd boosted its position in shares of Cigna by 14.5% during the 1st quarter. IFM Investors Pty Ltd now owns 25,099 shares of the health services provider’s stock valued at $4,036,000 after acquiring an additional 3,173 shares during the last quarter. 88.61% of the stock is currently owned by institutional investors.

In related news, insider Brian C. Evanko bought 2,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were acquired at an average cost of $163.40 per share, with a total value of $326,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Zollars sold 272 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Shares of CI stock traded up $2.58 during trading hours on Friday, reaching $158.44. The company’s stock had a trading volume of 2,193,960 shares, compared to its average volume of 3,414,750. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.65 and a current ratio of 0.70. Cigna Corp has a one year low of $141.95 and a one year high of $226.60. The firm has a market cap of $60.12 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.77 and a beta of 0.69.

Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.16. Cigna had a return on equity of 14.23% and a net margin of 4.11%. The company had revenue of $33.43 billion for the quarter, compared to analyst estimates of $32.79 billion. During the same period in the previous year, the company posted $4.11 earnings per share. The firm’s revenue was up 192.9% on a year-over-year basis. As a group, equities analysts predict that Cigna Corp will post 16.53 EPS for the current year.

A number of analysts have recently issued reports on CI shares. ValuEngine upgraded Cigna from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 25th. Morgan Stanley dropped their price target on Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a research report on Tuesday, February 5th. Goldman Sachs Group reiterated a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Zacks Investment Research cut Cigna from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $245.00 price objective on shares of Cigna in a report on Sunday, April 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $225.85.

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Cigna Company Profile

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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