CIGNA Co. (CI) Stake Lessened by Calamos Advisors LLC

Calamos Advisors LLC decreased its holdings in CIGNA Co. (NYSE:CI) by 48.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,913 shares of the health services provider’s stock after selling 21,961 shares during the period. Calamos Advisors LLC’s holdings in CIGNA were worth $3,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Synovus Financial Corp acquired a new stake in shares of CIGNA during the 1st quarter valued at $115,000. Signaturefd LLC acquired a new stake in shares of CIGNA during the 1st quarter valued at $115,000. Elmwood Wealth Management Inc. acquired a new stake in shares of CIGNA during the 1st quarter valued at $117,000. Handelsbanken Fonder AB acquired a new stake in shares of CIGNA during the 2nd quarter valued at $214,000. Finally, Cambria Investment Management L.P. acquired a new stake in shares of CIGNA during the 1st quarter valued at $267,000. Institutional investors own 87.79% of the company’s stock.

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CI has been the topic of several recent research reports. Zacks Investment Research downgraded CIGNA from a “hold” rating to a “sell” rating in a report on Wednesday, April 4th. Credit Suisse Group raised their price objective on CIGNA from $215.00 to $218.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Goldman Sachs Group raised CIGNA from a “neutral” rating to a “buy” rating and raised their price objective for the company from $193.00 to $212.00 in a report on Wednesday, June 6th. Finally, ValuEngine downgraded CIGNA from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $217.00.

In other CIGNA news, VP Hoeltzel Mary T. Agoglia sold 1,000 shares of CIGNA stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $176.19, for a total transaction of $176,190.00. Following the transaction, the vice president now directly owns 4,635 shares of the company’s stock, valued at approximately $816,640.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Zollars sold 265 shares of CIGNA stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $176.93, for a total value of $46,886.45. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Shares of CIGNA opened at $178.09 on Friday, according to MarketBeat.com. The stock has a market cap of $43.32 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.11 and a beta of 0.62. CIGNA Co. has a 12 month low of $163.02 and a 12 month high of $227.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.35 and a current 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, topping the Thomson Reuters’ consensus estimate of $3.39 by $0.72. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $10.97 billion. CIGNA had a return on equity of 20.90% and a net margin of 5.99%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.77 EPS. equities research analysts forecast that CIGNA Co. will post 13.24 EPS for the current year.

About CIGNA

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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