Dumont & Blake Investment Advisors LLC Sells 5,092 Shares of The Cigna Group (NYSE:CI)

Dumont & Blake Investment Advisors LLC decreased its stake in shares of The Cigna Group (NYSE:CI) by 50.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,061 shares of the health services provider’s stock after selling 5,092 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in The Cigna Group were worth $1,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after buying an additional 1,629 shares during the last quarter. ORG Partners LLC bought a new position in shares of The Cigna Group in the second quarter worth approximately $489,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of The Cigna Group by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in The Cigna Group by 36.0% during the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CI has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays raised their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Stock Up 0.1 %

CI stock traded up $0.43 during trading hours on Friday, hitting $318.67. The company’s stock had a trading volume of 26,645 shares, compared to its average volume of 1,495,004. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock has a 50 day moving average price of $349.85 and a two-hundred day moving average price of $343.40. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $90.53 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the prior year, the business posted $6.13 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.76%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

The Cigna Group Profile

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.