The Cigna Group (NYSE:CI) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its stake in shares of The Cigna Group (NYSE:CI) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,568 shares of the health services provider’s stock after selling 201 shares during the quarter. IFM Investors Pty Ltd’s holdings in The Cigna Group were worth $20,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after acquiring an additional 625 shares in the last quarter. Hancock Whitney Corp lifted its holdings 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 valued at $1,374,000 after buying an additional 1,629 shares during the period. ORG Partners LLC purchased a new stake in shares of The Cigna Group in the second quarter valued at approximately $489,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 worth $34,304,000 after acquiring an additional 16,846 shares during the period. Finally, Tidal Investments LLC raised its position in The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Price Performance

NYSE CI traded up $2.82 on Thursday, reaching $320.39. The company’s stock had a trading volume of 445,509 shares, compared to its average volume of 1,496,301. The firm has a market cap of $91.01 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The business has a 50-day moving average price of $349.85 and a 200 day moving average price of $343.40.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $6.13 EPS. Sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.75%. The Cigna Group’s payout ratio is 45.98%.

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.