Cumberland Partners Ltd lowered its stake in shares of CIGNA Co. (NYSE:CI) by 14.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 181,065 shares of the health services provider’s stock after selling 31,670 shares during the quarter. CIGNA accounts for about 4.8% of Cumberland Partners Ltd’s investment portfolio, making the stock its 3rd largest holding. Cumberland Partners Ltd’s holdings in CIGNA were worth $36,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the stock. Argent Capital Management LLC grew its position in CIGNA by 2.0% during the second quarter. Argent Capital Management LLC now owns 2,613 shares of the health services provider’s stock worth $437,000 after buying an additional 50 shares in the last quarter. Eqis Capital Management Inc. grew its position in CIGNA by 3.1% during the third quarter. Eqis Capital Management Inc. now owns 8,949 shares of the health services provider’s stock worth $1,673,000 after buying an additional 267 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in CIGNA by 19.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,667 shares of the health services provider’s stock worth $339,000 after buying an additional 272 shares in the last quarter. Comerica Bank grew its position in CIGNA by 0.4% during the third quarter. Comerica Bank now owns 62,611 shares of the health services provider’s stock worth $12,379,000 after buying an additional 274 shares in the last quarter. Finally, Investec Asset Management PTY Ltd grew its position in CIGNA by 3.4% during the third quarter. Investec Asset Management PTY Ltd now owns 8,865 shares of the health services provider’s stock worth $1,645,000 after buying an additional 290 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on CI. Morgan Stanley raised their target price on CIGNA from $195.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Oppenheimer raised their target price on CIGNA to $237.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 target price (up previously from $185.00) on shares of CIGNA in a report on Friday, November 3rd. Goldman Sachs Group began coverage on CIGNA in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $247.00 target price on the stock. Finally, Jefferies Group raised their target price on CIGNA from $201.00 to $221.00 and gave the company a “buy” rating in a report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $210.12.

CIGNA Co. (CI) opened at $195.44 on Thursday. CIGNA Co. has a 12 month low of $141.93 and a 12 month high of $227.13. The company has a market capitalization of $48,205.44, a price-to-earnings ratio of 18.91, a PEG ratio of 1.19 and a beta of 0.45. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.

CIGNA (NYSE:CI) last announced its quarterly earnings results on Thursday, February 1st. The health services provider reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.07. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same period in the prior year, the company earned $1.87 EPS. CIGNA’s revenue was up 5.9% compared to the same quarter last year. sell-side analysts predict that CIGNA Co. will post 12.9 earnings per share for the current fiscal year.

In related news, insider Michael W. Triplett sold 10,417 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $197.77, for a total transaction of $2,060,170.09. Following the completion of the transaction, the insider now directly owns 32,347 shares of the company’s stock, valued at approximately $6,397,266.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alan Muney sold 15,345 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $200.80, for a total value of $3,081,276.00. Following the transaction, the executive vice president now directly owns 28,457 shares of the company’s stock, valued at $5,714,165.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,080 shares of company stock valued at $15,390,073. 1.30% of the stock is owned by corporate insiders.

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About CIGNA

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.

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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