Comerica Bank Sells 14,132 Shares of CIGNA Co. (CI)

Comerica Bank decreased its holdings in CIGNA Co. (NYSE:CI) by 21.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,844 shares of the health services provider’s stock after selling 14,132 shares during the quarter. Comerica Bank’s holdings in CIGNA were worth $10,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Flagship Harbor Advisors LLC acquired a new stake in CIGNA in the second quarter valued at approximately $102,000. Sun Life Financial INC raised its holdings in CIGNA by 254.3% in the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after acquiring an additional 473 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in CIGNA in the third quarter valued at approximately $116,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in CIGNA by 3,122.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after acquiring an additional 687 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in CIGNA by 98.7% in the second quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock valued at $133,000 after acquiring an additional 390 shares in the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

CI has been the topic of several analyst reports. SunTrust Banks raised their target price on shares of CIGNA to $244.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 target price on the stock in a report on Tuesday, August 7th. Citigroup raised their target price on shares of CIGNA from $243.00 to $249.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Finally, ValuEngine raised shares of CIGNA from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $233.14.

In other news, insider Jason D. Sadler sold 21,189 shares of CIGNA stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $212.99, for a total value of $4,513,045.11. Following the transaction, the insider now directly owns 41,966 shares of the company’s stock, valued at approximately $8,938,338.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael W. Triplett sold 2,825 shares of CIGNA stock in a transaction on Monday, November 5th. The shares were sold at an average price of $214.25, for a total transaction of $605,256.25. Following the completion of the transaction, the insider now directly owns 23,871 shares in the company, valued at $5,114,361.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,252 shares of company stock worth $5,164,402. 1.10% of the stock is owned by corporate insiders.

CI stock opened at $220.49 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.98. CIGNA Co. has a twelve month low of $163.02 and a twelve month high of $227.13. The company has a market cap of $52.17 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.21 and a beta of 0.58.

CIGNA (NYSE:CI) last released its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.39. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The company had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the company earned $2.83 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that CIGNA Co. will post 14.35 earnings per share for the current year.

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About CIGNA

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.

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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