CIGNA Co. (NYSE:CI) Shares Sold by OppenheimerFunds Inc.

OppenheimerFunds Inc. lowered its stake in CIGNA Co. (NYSE:CI) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,151 shares of the health services provider’s stock after selling 9,827 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.09% of CIGNA worth $35,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CI. Veritas Asset Management LLP increased its stake in shares of CIGNA by 81.1% during the second quarter. Veritas Asset Management LLP now owns 4,422,200 shares of the health services provider’s stock valued at $751,553,000 after buying an additional 1,979,877 shares during the period. FMR LLC increased its stake in shares of CIGNA by 10.8% during the second quarter. FMR LLC now owns 7,561,105 shares of the health services provider’s stock valued at $1,285,010,000 after buying an additional 734,965 shares during the period. Old Mutual Global Investors UK Ltd. increased its stake in shares of CIGNA by 515.0% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 640,628 shares of the health services provider’s stock valued at $107,458,000 after buying an additional 536,469 shares during the period. Renaissance Technologies LLC increased its stake in shares of CIGNA by 150.1% during the second quarter. Renaissance Technologies LLC now owns 788,000 shares of the health services provider’s stock valued at $133,921,000 after buying an additional 472,900 shares during the period. Finally, Levin Capital Strategies L.P. purchased a new position in shares of CIGNA during the first quarter valued at approximately $50,972,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Several equities research analysts recently weighed in on CI shares. ValuEngine raised CIGNA from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $224.00 price target on shares of CIGNA in a research note on Friday, August 3rd. SunTrust Banks upped their price target on CIGNA to $244.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research downgraded CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Cowen started coverage on CIGNA in a report on Monday, September 17th. They issued an “outperform” rating and a $240.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. CIGNA has a consensus rating of “Buy” and an average target price of $229.73.

In related news, Director William D. Zollars sold 238 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $193.70, for a total transaction of $46,100.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric P. Palmer purchased 2,828 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were purchased at an average cost of $177.61 per share, with a total value of $502,281.08. Following the completion of the purchase, the chief financial officer now owns 9,678 shares of the company’s stock, valued at approximately $1,718,909.58. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

CIGNA stock traded up $3.10 during mid-day trading on Friday, reaching $215.72. 2,398,969 shares of the stock traded hands, compared to its average volume of 2,342,609. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $50.68 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64. CIGNA Co. has a 12-month low of $163.02 and a 12-month high of $227.13.

CIGNA (NYSE:CI) last issued its quarterly earnings results on Thursday, August 2nd. The health services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.56. CIGNA had a return on equity of 22.27% and a net margin of 5.82%. The business had revenue of $11.50 billion during the quarter, compared to analysts’ expectations of $11.20 billion. During the same quarter in the prior year, the business posted $2.91 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that CIGNA Co. will post 13.87 EPS for the current fiscal year.

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.

Further Reading: Exchange-Traded Funds (ETFs)

Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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