Ridgeworth Capital Management Lowers stake in CIGNA Corporation (CI)

CIGNA Corporation (CI) : Ridgeworth Capital Management reduced its stake in CIGNA Corporation by 21.46% during the most recent quarter end. The investment management company now holds a total of 1,544,508 shares of CIGNA Corporation which is valued at $198.3 Million after selling 422,074 shares in CIGNA Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.CIGNA Corporation makes up approximately 1.76% of Ridgeworth Capital Management’s portfolio.

Other Hedge Funds, Including , Aviance Capital Partners reduced its stake in CI by selling 840 shares or 3.31% in the most recent quarter. The Hedge Fund company now holds 24,510 shares of CI which is valued at $3.2 Million. CIGNA Corporation makes up approx 1.17% of Aviance Capital Partners’s portfolio.Hl Financial Services reduced its stake in CI by selling 133 shares or 8.25% in the most recent quarter. The Hedge Fund company now holds 1,480 shares of CI which is valued at $205,039.

CIGNA Corporation opened for trading at $128.31 and hit $130.92 on the upside on Monday, eventually ending the session at $130.01, with a gain of 1.29% or 1.65 points. The heightened volatility saw the trading volume jump to 9,13,341 shares. Company has a market cap of $33,349 M.

On the company’s financial health, CIGNA Corporation reported $2.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on May 6, 2016. Analyst had a consensus of $2.15. The company had revenue of $9884.00 million for the quarter, compared to analysts expectations of $9961.51 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS.

Many Wall Street Analysts have commented on CIGNA Corporation. Company shares were Reiterated by RBC Capital Mkts on May 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 174 from a previous price target of $169 .

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 operates in three segments: Global Health Care Global Supplemental Benefits and Group Disability and Life. The Global Health Care segment aggregates the commercial and Government operating segments. The Global Supplemental Benefits segment offers supplemental health life and accident insurance products. The Group Disability and Life segment provides group long-term and short-term disability insurance group life insurance accident and specialty insurance and related services. Cigna offers commercial health and dental insurance Medicare and Medicaid products and health life and accident insurance coverages to individuals. It offers personal accident insurance coverage consisting of accidental death and dismemberment and travel accident insurance.

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