First Citizens Bank & Trust Co. Grows Position in CIGNA Co. (CI)

First Citizens Bank & Trust Co. increased its position in CIGNA Co. (NYSE:CI) by 100.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,340 shares of the health services provider’s stock after acquiring an additional 3,183 shares during the period. First Citizens Bank & Trust Co.’s holdings in CIGNA were worth $1,288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Investec Asset Management LTD grew its holdings in CIGNA by 35.4% during the 3rd quarter. Investec Asset Management LTD now owns 1,849,598 shares of the health services provider’s stock valued at $345,764,000 after buying an additional 483,904 shares during the last quarter. FMR LLC grew its holdings in CIGNA by 6.7% during the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock valued at $1,156,604,000 after buying an additional 432,978 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in CIGNA by 4,082.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 438,231 shares of the health services provider’s stock valued at $73,355,000 after buying an additional 427,754 shares during the last quarter. Vanguard Group Inc. grew its holdings in CIGNA by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock valued at $2,867,514,000 after buying an additional 424,469 shares during the last quarter. Finally, Numeric Investors LLC grew its holdings in CIGNA by 76.0% during the 2nd quarter. Numeric Investors LLC now owns 714,702 shares of the health services provider’s stock valued at $119,634,000 after buying an additional 308,702 shares during the last quarter. Institutional investors and hedge funds own 87.74% of the company’s stock.

CIGNA Co. (CI) opened at $210.89 on Friday. CIGNA Co. has a 52 week low of $133.52 and a 52 week high of $212.46. The firm has a market capitalization of $51,990.00, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37.

CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.47. CIGNA had a return on equity of 18.85% and a net margin of 5.74%. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.17 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. sell-side analysts expect that CIGNA Co. will post 10.34 earnings per share for the current year.

CI has been the topic of a number of analyst reports. Piper Jaffray Companies reiterated a “buy” rating and set a $191.00 target price on shares of CIGNA in a report on Sunday, September 17th. Zacks Investment Research upgraded CIGNA from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a report on Monday, October 9th. Jefferies Group increased their target price on CIGNA from $201.00 to $221.00 and gave the company a “buy” rating in a report on Friday, October 13th. BMO Capital Markets initiated coverage on CIGNA in a report on Monday, October 16th. They set a “market perform” rating and a $210.00 target price on the stock. Finally, Credit Suisse Group initiated coverage on CIGNA in a report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $205.18.

In related news, EVP Alan Muney sold 15,345 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the transaction, the executive vice president now directly owns 28,457 shares of the company’s stock, valued at approximately $5,714,165.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mary T. Hoeltzel sold 575 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $197.03, for a total value of $113,292.25. Following the completion of the transaction, the chief accounting officer now directly owns 2,499 shares in the company, valued at $492,377.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,936 shares of company stock worth $6,979,204. Corporate insiders own 1.30% of the company’s stock.

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CIGNA Company Profile

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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