Acadian Asset Management LLC Reduces Stake in CIGNA Co. (CI)

Acadian Asset Management LLC trimmed its position in CIGNA Co. (NYSE:CI) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 949,319 shares of the health services provider’s stock after selling 12,777 shares during the period. CIGNA makes up approximately 0.8% of Acadian Asset Management LLC’s holdings, making the stock its 27th biggest holding. Acadian Asset Management LLC owned 0.39% of CIGNA worth $197,700,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in CIGNA during the 2nd quarter worth approximately $102,000. Sun Life Financial INC raised its holdings in CIGNA by 254.3% during the 2nd quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after buying an additional 473 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in CIGNA during the 3rd quarter worth approximately $116,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in CIGNA by 3,122.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock worth $120,000 after buying an additional 687 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its holdings in CIGNA by 98.7% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock worth $133,000 after buying an additional 390 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

In related news, insider Michael W. Triplett sold 2,825 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $214.25, for a total value of $605,256.25. Following the completion of the transaction, the insider now directly owns 23,871 shares of the company’s stock, valued at $5,114,361.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Zollars sold 238 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $193.70, for a total transaction 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.

Several analysts have commented on CI shares. ValuEngine upgraded shares of CIGNA from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Jefferies Financial Group restated a “buy” rating and set a $224.00 target price on shares of CIGNA in a report on Friday, August 3rd. SunTrust Banks raised their price target on shares of CIGNA to $244.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price target for the company in a research note on Tuesday, August 7th. Finally, Cowen started coverage on shares of CIGNA in a research note on Monday, September 17th. They set an “outperform” rating and a $240.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $236.29.

Shares of CI traded up $1.93 during mid-day trading on Thursday, hitting $209.71. 1,839,168 shares of the company’s stock were exchanged, compared to its average volume of 2,494,533. The stock has a market capitalization of $50.60 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.17 and a beta of 0.58. CIGNA Co. has a 52 week low of $163.02 and a 52 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 issued its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the business earned $2.83 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that CIGNA Co. will post 14.35 earnings per share for the current fiscal 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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