CIGNA Co. (CI) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in CIGNA Co. (NYSE:CI) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,142 shares of the health services provider’s stock after purchasing an additional 774 shares during the period. Daiwa Securities Group Inc.’s holdings in CIGNA were worth $1,904,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CI. Tdam USA Inc. purchased a new stake in CIGNA in the third quarter worth approximately $200,000. TD Asset Management Inc. boosted its stake in CIGNA by 27.3% in the third quarter. TD Asset Management Inc. now owns 404,864 shares of the health services provider’s stock worth $84,313,000 after buying an additional 86,919 shares in the last quarter. Chicago Equity Partners LLC boosted its stake in CIGNA by 47.0% in the third quarter. Chicago Equity Partners LLC now owns 25,000 shares of the health services provider’s stock worth $5,206,000 after buying an additional 7,990 shares in the last quarter. Synovus Financial Corp boosted its stake in CIGNA by 186.5% in the third quarter. Synovus Financial Corp now owns 1,553 shares of the health services provider’s stock worth $322,000 after buying an additional 1,011 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in CIGNA by 24.1% in the third quarter. Victory Capital Management Inc. now owns 105,582 shares of the health services provider’s stock worth $21,987,000 after buying an additional 20,537 shares in the last quarter. Institutional investors own 89.11% 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 transaction of $4,513,045.11. Following the completion of the sale, the insider now owns 41,966 shares of the company’s stock, valued at $8,938,338.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael W. Triplett sold 2,825 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $214.25, for a total value of $605,256.25. Following the completion of the sale, the insider now directly owns 23,871 shares of the company’s stock, valued at approximately $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 valued at $5,164,402. Insiders own 1.10% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $212.00 target price for the company in a research note on Tuesday, August 7th. Cantor Fitzgerald assumed coverage on CIGNA in a research note on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 target price for the company. ValuEngine lowered CIGNA from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Cowen assumed coverage on CIGNA in a research note on Monday, September 17th. They issued an “outperform” rating and a $240.00 target price for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $224.00 target price on shares of CIGNA in a research note on Friday, August 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $233.14.

NYSE:CI opened at $217.65 on Friday. The company has a market cap of $53.70 billion, a PE ratio of 16.00, a P/E/G ratio of 1.24 and a beta of 0.58. CIGNA Co. has a fifty-two week low of $163.02 and a fifty-two week high of $227.13. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.61.

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, beating analysts’ consensus estimates of $3.45 by $0.39. The firm had revenue of $11.45 billion during the quarter, compared to analyst estimates of $11.19 billion. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.83 earnings per share. Sell-side analysts anticipate 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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