Hartford Investment Management Co. Sells 607 Shares of The Cigna Group (NYSE:CI)

Hartford Investment Management Co. cut its stake in shares of The Cigna Group (NYSE:CI) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,593 shares of the health services provider’s stock after selling 607 shares during the period. Hartford Investment Management Co.’s holdings in The Cigna Group were worth $6,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in The Cigna Group by 240.8% during the fourth quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock valued at $4,993,000 after buying an additional 11,782 shares during the last quarter. Global Assets Advisory LLC bought a new position in The Cigna Group in the 1st quarter worth $5,421,000. Dynamic Advisor Solutions LLC lifted its position in The Cigna Group by 13.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,290 shares of the health services provider’s stock valued at $1,558,000 after purchasing an additional 501 shares in the last quarter. First Financial Corp IN grew its holdings in The Cigna Group by 17.2% during the first quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after purchasing an additional 33 shares during the period. Finally, Atlas Capital Advisors LLC grew its stake in shares of The Cigna Group by 182.7% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,934 shares of the health services provider’s stock valued at $1,066,000 after acquiring an additional 1,896 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CI shares. Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Trading Down 0.2 %

Shares of NYSE:CI traded down $0.54 on Wednesday, hitting $316.92. 95,616 shares of the company’s stock were exchanged, compared to its average volume of 1,495,294. The business’s 50 day simple moving average is $350.20 and its two-hundred day simple moving average is $343.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $90.03 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.13 earnings per share. Analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.