CIGNA Co. (CI) Shares Sold by Icon Advisers Inc. Co.

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Icon Advisers Inc. Co. reduced its stake in CIGNA Co. (NYSE:CI) by 11.9% during the third quarter, Holdings Channel reports. The institutional investor owned 65,442 shares of the health services provider’s stock after selling 8,809 shares during the period. CIGNA comprises 1.2% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 22nd biggest holding. Icon Advisers Inc. Co.’s holdings in CIGNA were worth $13,628,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. LFA Lugano Financial Advisors SA bought a new stake in shares of CIGNA during the third quarter valued at about $116,000. Flagship Harbor Advisors LLC purchased a new stake in shares of CIGNA during the second quarter valued at approximately $102,000. Sun Life Financial INC boosted its stake in shares of CIGNA by 254.3% during the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock valued at $112,000 after purchasing an additional 473 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of CIGNA by 3,122.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock valued at $120,000 after purchasing an additional 687 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of CIGNA by 98.7% during the second quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock valued at $133,000 after purchasing an additional 390 shares during the period. 89.11% of the stock is currently owned by institutional investors.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered CIGNA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. BMO Capital Markets raised their price target on CIGNA from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, November 2nd. Citigroup raised their price target on CIGNA from $243.00 to $249.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Barclays raised their price target on CIGNA from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, SunTrust Banks raised their price target on CIGNA and gave the stock a “buy” rating in a research note on Thursday, September 27th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $233.14.

CIGNA stock opened at $214.24 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.98. CIGNA Co. has a one year low of $163.02 and a one year high of $227.13. The firm has a market cap of $51.87 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.22 and a beta of 0.58.

CIGNA (NYSE:CI) last released its quarterly earnings data on Thursday, November 1st. The health services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.45 by $0.39. CIGNA had a return on equity of 23.31% and a net margin of 6.15%. The company had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the firm posted $2.83 earnings per share. CIGNA’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that CIGNA Co. will post 14.35 EPS for the current fiscal year.

In other CIGNA news, Director William D. Zollars sold 238 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $193.70, for a total value of $46,100.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason D. Sadler sold 21,189 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $212.99, for a total value of $4,513,045.11. Following the completion of the transaction, the insider now directly owns 41,966 shares in the company, valued at $8,938,338.34. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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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.

Read More: What Is An Exchange-Traded Fund (ETF)?

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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