Sumitomo Life Insurance Co. Increases Stake in Cigna Corp (NYSE:CI)

Sumitomo Life Insurance Co. grew its position in shares of Cigna Corp (NYSE:CI) by 75.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,714 shares of the health services provider’s stock after buying an additional 5,900 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cigna were worth $2,804,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Baystate Wealth Management LLC grew its stake in shares of Cigna by 5.9% during the 4th quarter. Baystate Wealth Management LLC now owns 893 shares of the health services provider’s stock worth $183,000 after purchasing an additional 50 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Cigna by 1.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,324 shares of the health services provider’s stock worth $808,000 after purchasing an additional 60 shares during the period. Cetera Investment Advisers grew its stake in shares of Cigna by 4.6% during the 3rd quarter. Cetera Investment Advisers now owns 1,390 shares of the health services provider’s stock worth $212,000 after purchasing an additional 61 shares during the period. JGP Global Gestao de Recursos Ltda. grew its stake in shares of Cigna by 2.0% during the 3rd quarter. JGP Global Gestao de Recursos Ltda. now owns 3,294 shares of the health services provider’s stock worth $500,000 after purchasing an additional 65 shares during the period. Finally, Chesley Taft & Associates LLC grew its stake in shares of Cigna by 0.7% during the 4th quarter. Chesley Taft & Associates LLC now owns 9,011 shares of the health services provider’s stock worth $1,843,000 after purchasing an additional 66 shares during the period. Institutional investors own 87.40% of the company’s stock.

In related news, EVP Nicole S. Jones sold 6,956 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $200.58, for a total value of $1,395,234.48. Following the sale, the executive vice president now directly owns 37,404 shares of the company’s stock, valued at approximately $7,502,494.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Partridge sold 3,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $203.70, for a total transaction of $672,210.00. Following the sale, the director now directly owns 29,180 shares in the company, valued at $5,943,966. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,692 shares of company stock worth $4,544,074. 0.80% of the stock is owned by corporate insiders.

CI has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Cigna from $207.00 to $208.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. BMO Capital Markets raised shares of Cigna from a “market perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research note on Monday, September 30th. Deutsche Bank upped their price target on shares of Cigna from $210.00 to $229.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on shares of Cigna from $225.00 to $282.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Citigroup upped their price target on shares of Cigna from $221.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $220.38.

NYSE CI traded down $7.72 during trading hours on Friday, reaching $204.98. The company’s stock had a trading volume of 96,481 shares, compared to its average volume of 1,325,531. The stock has a market cap of $78.89 billion, a PE ratio of 18.02, a PEG ratio of 0.97 and a beta of 0.75. Cigna Corp has a fifty-two week low of $141.95 and a fifty-two week high of $214.44. The company’s 50-day moving average is $203.47 and its two-hundred day moving average is $177.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.63 and a current ratio of 0.63.

Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $4.54 EPS for the quarter, beating the Zacks’ consensus estimate of $4.37 by $0.17. The firm had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $34.20 billion. Cigna had a net margin of 3.30% and a return on equity of 12.79%. The firm’s revenue was up 213.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.84 EPS. Equities analysts expect that Cigna Corp will post 16.94 earnings per share for the current fiscal year.

Cigna Profile

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

Further Reading: Diversification in Investing

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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