CIGNA Co. (CI) Shares Sold by Pendal Group Ltd

Pendal Group Ltd decreased its position in CIGNA Co. (NYSE:CI) by 50.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,137 shares of the health services provider’s stock after selling 41,269 shares during the period. Pendal Group Ltd’s holdings in CIGNA were worth $8,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of CIGNA during the 3rd quarter valued at about $116,000. Flagship Harbor Advisors LLC purchased a new position in shares of CIGNA in the 2nd quarter valued at about $102,000. Sun Life Financial INC increased its stake in shares of CIGNA by 254.3% in the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after purchasing an additional 473 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of CIGNA by 3,122.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after purchasing an additional 687 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of CIGNA by 98.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock valued at $133,000 after purchasing an additional 390 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

CI stock traded up $7.42 during trading on Wednesday, hitting $221.66. The stock had a trading volume of 15,866 shares, compared to its average volume of 2,452,489. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. CIGNA Co. has a twelve month low of $163.02 and a twelve month high of $227.13. The stock has a market cap of $51.87 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.22 and a beta of 0.58.

CIGNA (NYSE:CI) last posted its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $11.19 billion. During the same period in the previous year, the firm posted $2.83 EPS. CIGNA’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts forecast that CIGNA Co. will post 14.35 EPS for the current fiscal year.

In related news, Director William D. Zollars sold 238 shares of CIGNA stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason D. Sadler sold 21,189 shares of CIGNA stock in a transaction dated 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 owns 41,966 shares in the company, valued at $8,938,338.34. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

CI has been the subject of several recent analyst reports. Zacks Investment Research lowered CIGNA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. SunTrust Banks lifted their price target on CIGNA and gave the company a “buy” rating in a research note on Thursday, September 27th. ValuEngine upgraded CIGNA from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Leerink Swann lifted their price target on CIGNA from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, September 21st. Finally, Cowen initiated coverage on CIGNA in a research note on Monday, September 17th. They issued an “outperform” rating and a $240.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $233.14.

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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.

Read More: Earnings Per Share

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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