Cigna Holding Co (CI) Stake Lowered by Meag Munich Ergo Kapitalanlagegesellschaft MBH

Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its position in Cigna Holding Co (NYSE:CI) by 83.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,769 shares of the health services provider’s stock after selling 28,442 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Cigna were worth $1,115,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Cigna by 10.8% in the 2nd quarter. FMR LLC now owns 7,561,105 shares of the health services provider’s stock valued at $1,285,010,000 after purchasing an additional 734,965 shares during the period. Advisors Asset Management Inc. grew its position in Cigna by 759.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,442 shares of the health services provider’s stock valued at $225,000 after purchasing an additional 22,481 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Cigna in the 3rd quarter valued at $4,993,000. Atria Investments LLC grew its position in Cigna by 36.3% in the 3rd quarter. Atria Investments LLC now owns 6,608 shares of the health services provider’s stock valued at $1,376,000 after purchasing an additional 1,761 shares during the period. Finally, Pennsylvania Trust Co grew its position in Cigna by 1.2% in the 3rd quarter. Pennsylvania Trust Co now owns 20,363 shares of the health services provider’s stock valued at $4,241,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.

Several analysts recently issued reports on the stock. Zacks Investment Research reissued a “strong-buy” rating and issued a $246.00 price target on shares of Cigna in a research report on Monday, November 12th. Credit Suisse Group restated a “buy” rating and set a $250.00 price objective on shares of Cigna in a research note on Monday, January 7th. Barclays raised their price objective on Cigna from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. ValuEngine cut Cigna from a “hold” rating to a “sell” rating in a research note on Friday, December 28th. Finally, Stephens assumed coverage on Cigna in a research note on Monday, January 14th. They set an “overweight” rating and a $251.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $229.38.

In other news, Director William D. Zollars sold 201 shares of Cigna stock in a transaction on Friday, December 14th. The stock was sold at an average price of $210.84, for a total transaction of $42,378.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael W. Triplett sold 2,825 shares of Cigna 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 sale, the insider now owns 23,871 shares in the company, valued at $5,114,361.75. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Shares of NYSE:CI opened at $194.06 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. Cigna Holding Co has a 1-year low of $163.02 and a 1-year high of $226.60. The firm has a market cap of $47.26 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.84 and a beta of 0.72.

Cigna (NYSE:CI) last released its earnings results on Friday, February 1st. The health services provider reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.53 by ($0.07). The business had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $11.38 billion. Cigna had a return on equity of 23.31% and a net margin of 6.15%. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 earnings per share. As a group, sell-side analysts forecast that Cigna Holding Co will post 16.25 earnings per share for the current year.

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Cigna Company Profile

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.

Read More: Cost of Equity For A Business, Investors

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Holding Co (NYSE:CI).

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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