CIGNA Co. (CI) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its stake in CIGNA Co. (NYSE:CI) by 53.0% in the third quarter, HoldingsChannel reports. The firm owned 6,335 shares of the health services provider’s stock after selling 7,143 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in CIGNA were worth $1,319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Veritas Asset Management LLP increased its holdings in shares of CIGNA by 81.1% in the 2nd quarter. Veritas Asset Management LLP now owns 4,422,200 shares of the health services provider’s stock valued at $751,553,000 after purchasing an additional 1,979,877 shares in the last quarter. FMR LLC increased its holdings in shares of CIGNA by 10.8% in the 2nd quarter. FMR LLC now owns 7,561,105 shares of the health services provider’s stock valued at $1,285,010,000 after purchasing an additional 734,965 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of CIGNA by 533.9% in the 3rd quarter. DNB Asset Management AS now owns 578,488 shares of the health services provider’s stock valued at $120,470,000 after purchasing an additional 487,229 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of CIGNA by 150.1% in the 2nd quarter. Renaissance Technologies LLC now owns 788,000 shares of the health services provider’s stock valued at $133,921,000 after purchasing an additional 472,900 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CIGNA by 2,046.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 459,795 shares of the health services provider’s stock valued at $95,752,000 after purchasing an additional 438,378 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

In other CIGNA news, Director William D. Zollars sold 238 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $193.70, for a total transaction of $46,100.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.



A number of brokerages have recently issued reports on CI. Zacks Investment Research downgraded shares of CIGNA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. SunTrust Banks increased their price objective on shares of CIGNA and gave the company a “buy” rating in a research note on Thursday, September 27th. Cantor Fitzgerald began coverage on shares of CIGNA in a research note on Wednesday, September 26th. They issued an “overweight” rating and a $245.00 price objective on the stock. Leerink Swann increased their price objective on shares of CIGNA from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, September 21st. Finally, ValuEngine raised shares of CIGNA from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. CIGNA presently has an average rating of “Buy” and an average target price of $231.14.

Shares of NYSE CI opened at $213.81 on Thursday. The stock has a market capitalization of $51.17 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. CIGNA Co. has a 52 week low of $163.02 and a 52 week high of $227.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.38 and a current ratio of 0.38.

CIGNA (NYSE:CI) last issued its quarterly earnings data on Thursday, August 2nd. The health services provider reported $3.89 EPS for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.56. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.20 billion. CIGNA had a net margin of 5.82% and a return on equity of 22.27%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.91 EPS. As a group, equities research analysts expect that CIGNA Co. will post 13.87 earnings per share for the current 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: Understanding Market Liquidity

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Institutional Ownership by Quarter for CIGNA (NYSE:CI)

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