Alpha Cubed Investments LLC lessened its position in Cigna (NYSE:CI) by 9.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,068 shares of the health services provider’s stock after selling 315 shares during the period. Alpha Cubed Investments LLC’s holdings in Cigna were worth $515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Financial Gravity Companies Inc. bought a new position in shares of Cigna in the fourth quarter worth approximately $112,000. Synovus Financial Corp bought a new position in shares of Cigna in the first quarter worth approximately $115,000. Signaturefd LLC bought a new position in shares of Cigna in the first quarter worth approximately $115,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Cigna in the fourth quarter worth approximately $122,000. Finally, Cerebellum GP LLC bought a new position in shares of Cigna in the fourth quarter worth approximately $127,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.

In other Cigna news, insider Christopher J. Hocevar sold 2,759 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.84, for a total transaction of $529,286.56. Following the completion of the sale, the insider now directly owns 12,784 shares of the company’s stock, valued at $2,452,482.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 36,769 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.68, for a total transaction of $7,047,881.92. Following the sale, the chief executive officer now directly owns 372,076 shares of the company’s stock, valued at $71,319,527.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,384 shares of company stock valued at $8,693,791. 1.10% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on CI. Credit Suisse Group boosted their price objective on shares of Cigna from $215.00 to $218.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Zacks Investment Research raised shares of Cigna from a “sell” rating to a “hold” rating in a report on Monday, April 16th. Sanford C. Bernstein began coverage on shares of Cigna in a report on Tuesday, March 13th. They set a “market perform” rating and a $194.00 price objective for the company. Barclays began coverage on shares of Cigna in a report on Thursday, March 8th. They set an “overweight” rating and a $235.00 price objective for the company. Finally, Oppenheimer boosted their price objective on shares of Cigna to $237.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Cigna presently has a consensus rating of “Buy” and an average target price of $212.50.

Shares of CI stock opened at $177.15 on Thursday. Cigna has a 12 month low of $174.87 and a 12 month high of $176.54. The company has a market cap of $43.19 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.35 and a quick ratio of 0.35.

Cigna (NYSE:CI) last announced its earnings results on Thursday, May 3rd. The health services provider reported $4.11 EPS for the quarter, beating the Zacks’ consensus estimate of $3.39 by $0.72. Cigna had a net margin of 5.99% and a return on equity of 20.90%. The business had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $10.97 billion. During the same period in the prior year, the company earned $2.77 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. research analysts predict that Cigna will post 13.23 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Cigna (NYSE:CI)

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