Russell Investments Group Ltd. Grows Stake in CIGNA Co. (CI)

Russell Investments Group Ltd. lifted its stake in shares of CIGNA Co. (NYSE:CI) by 15.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,038,456 shares of the health services provider’s stock after acquiring an additional 141,076 shares during the quarter. Russell Investments Group Ltd.’s holdings in CIGNA were worth $212,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saratoga Research & Investment Management bought a new stake in shares of CIGNA during the 3rd quarter worth $112,000. Iguana Healthcare Management LLC boosted its position in shares of CIGNA by 51.4% in the third quarter. Iguana Healthcare Management LLC now owns 26,500 shares of the health services provider’s stock worth $4,954,000 after buying an additional 9,000 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of CIGNA by 3.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 904,143 shares of the health services provider’s stock worth $183,623,000 after buying an additional 29,553 shares during the period. Ascension Asset Management LLC acquired a new stake in shares of CIGNA in the fourth quarter worth $473,000. Finally, Sectoral Asset Management Inc boosted its position in shares of CIGNA by 194.1% in the third quarter. Sectoral Asset Management Inc now owns 45,615 shares of the health services provider’s stock worth $8,527,000 after buying an additional 30,105 shares during the period. 88.04% of the stock is owned by institutional investors and hedge funds.

In other CIGNA news, CAO Mary T. Hoeltzel sold 575 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $197.03, for a total transaction of $113,292.25. Following the transaction, the chief accounting officer now directly owns 2,499 shares in the company, valued at $492,377.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John M. Murabito sold 6,099 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $220.10, for a total value of $1,342,389.90. Following the transaction, the executive vice president now owns 68,026 shares in the company, valued at $14,972,522.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,655 shares of company stock worth $15,503,365. Corporate insiders own 1.30% of the company’s stock.

Shares of CIGNA Co. (CI) opened at $198.00 on Wednesday. The stock has a market capitalization of $47,917.56, a price-to-earnings ratio of 18.80, a P/E/G ratio of 1.18 and a beta of 0.45. CIGNA Co. has a 12-month low of $141.93 and a 12-month high of $227.13. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38.

CIGNA (NYSE:CI) last released its quarterly earnings data on Thursday, February 1st. The health services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The firm had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter last year, the firm earned $1.87 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts forecast that CIGNA Co. will post 12.9 EPS for the current year.

Several analysts have recently commented on the company. Oppenheimer raised their target price on CIGNA to $237.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley raised their target price on CIGNA to $255.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Goldman Sachs Group assumed coverage on CIGNA in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 target price for the company. ValuEngine raised CIGNA from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $231.00 target price for the company in a research report on Friday, December 22nd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $210.12.

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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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