First Republic Investment Management Inc. lessened its stake in Cigna Corporation (NYSE:CI) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,442 shares of the health services provider’s stock after selling 277 shares during the period. First Republic Investment Management Inc.’s holdings in Cigna were worth $1,952,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CI. Saratoga Research & Investment Management purchased a new position in shares of Cigna during the 3rd quarter worth $112,000. Riverhead Capital Management LLC boosted its stake in shares of Cigna by 159.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock worth $923,000 after acquiring an additional 3,386 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Cigna by 3.0% during the 2nd quarter. Pacer Advisors Inc. now owns 5,581 shares of the health services provider’s stock worth $934,000 after acquiring an additional 165 shares during the last quarter. Norinchukin Bank The boosted its stake in shares of Cigna by 6.4% during the 2nd quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock worth $2,974,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Seven Eight Capital LP boosted its stake in shares of Cigna by 504.4% during the 2nd quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock worth $4,553,000 after acquiring an additional 22,700 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.

In other Cigna news, EVP Alan Muney sold 15,345 shares of Cigna stock in a transaction on Monday, November 27th. The shares were sold at an average price of $200.80, for a total value of $3,081,276.00. Following the sale, the executive vice president now directly owns 28,457 shares in the company, valued at approximately $5,714,165.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Hocevar sold 8,387 shares of Cigna stock in a transaction on Monday, November 27th. The shares were sold at an average price of $200.32, for a total transaction of $1,680,083.84. Following the completion of the sale, the insider now owns 12,363 shares in the company, valued at $2,476,556.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,724 shares of company stock worth $6,934,822. 1.30% of the stock is currently owned by insiders.

Cigna Corporation (NYSE:CI) opened at $208.48 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.39 and a current ratio of 0.39. Cigna Corporation has a one year low of $131.26 and a one year high of $212.46. The firm has a market cap of $51,568.34, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.60 and a beta of 0.50.

Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.47. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. Cigna had a net margin of 5.74% and a return on equity of 18.85%. Cigna’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 EPS. research analysts expect that Cigna Corporation will post 10.34 earnings per share for the current year.

CI has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price target (up previously from $185.00) on shares of Cigna in a research note on Friday, November 3rd. Jefferies Group lifted their target price on shares of Cigna from $221.00 to $231.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research cut shares of Cigna from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Piper Jaffray Companies restated a “buy” rating and set a $191.00 target price on shares of Cigna in a research note on Sunday, September 17th. Finally, Credit Suisse Group started coverage on shares of Cigna in a research note on Thursday, November 2nd. They set an “outperform” rating and a $219.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $201.50.

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Cigna Company Profile

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

Institutional Ownership by Quarter for Cigna (NYSE:CI)

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