The Cigna Group (NYSE:CI) Stake Cut by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its holdings in The Cigna Group (NYSE:CI) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,633 shares of the health services provider’s stock after selling 152 shares during the period. Douglas Lane & Associates LLC’s holdings in The Cigna Group were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CI. Silicon Valley Capital Partners lifted its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group during the 1st quarter worth about $29,000. Raleigh Capital Management Inc. raised its stake in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $37,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $43,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer raised their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $381.00.

Insider Buying and Selling

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

Shares of NYSE:CI traded up $3.58 during trading on Tuesday, hitting $329.29. 2,258,007 shares of the stock were exchanged, compared to its average volume of 1,584,539. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The company has a market capitalization of $93.54 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The company’s fifty day simple moving average is $335.67 and its 200-day simple moving average is $339.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $6.13 EPS. Sell-side analysts expect that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.