FineMark National Bank & Trust Has $1.28 Million Holdings in CIGNA Co. (CI)

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FineMark National Bank & Trust lowered its position in CIGNA Co. (NYSE:CI) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,125 shares of the health services provider’s stock after selling 624 shares during the period. FineMark National Bank & Trust’s holdings in CIGNA were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA bought a new stake in CIGNA in the third quarter worth about $116,000. Flagship Harbor Advisors LLC bought a new stake in CIGNA in the second quarter worth about $102,000. Sun Life Financial INC lifted its stake in CIGNA by 254.3% in the second quarter. Sun Life Financial INC now owns 659 shares of the health services provider’s stock worth $112,000 after purchasing an additional 473 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in CIGNA by 3,122.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 709 shares of the health services provider’s stock worth $120,000 after purchasing an additional 687 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in CIGNA by 98.7% in the second quarter. Moneta Group Investment Advisors LLC now owns 785 shares of the health services provider’s stock worth $133,000 after purchasing an additional 390 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on CI. Citigroup raised their price objective on shares of CIGNA from $243.00 to $249.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. BMO Capital Markets raised their price objective on shares of CIGNA from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, November 2nd. Barclays lifted their price target on shares of CIGNA from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Zacks Investment Research raised shares of CIGNA from a “hold” rating to a “buy” rating and set a $212.00 price target for the company in a research note on Tuesday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $224.00 price target on shares of CIGNA in a research note on Friday, August 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $233.14.

CIGNA stock opened at $214.24 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.61. CIGNA Co. has a fifty-two week low of $163.02 and a fifty-two week high of $227.13. The company has a market cap of $51.87 billion, a PE ratio of 20.48, a P/E/G ratio of 1.22 and a beta of 0.58.

CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, November 1st. The health services provider reported $3.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.39. CIGNA had a net margin of 6.15% and a return on equity of 23.31%. The firm had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm posted $2.83 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that CIGNA Co. will post 14.35 EPS for the current year.

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

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CIGNA 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.

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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