Heritage Investors Management Corp Sells 290 Shares of The Cigna Group (NYSE:CI)

Heritage Investors Management Corp lowered its stake in The Cigna Group (NYSE:CI) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,752 shares of the health services provider’s stock after selling 290 shares during the quarter. Heritage Investors Management Corp’s holdings in The Cigna Group were worth $4,418,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CI. Cedar Wealth Management LLC purchased a new stake in The Cigna Group during the 1st quarter valued at $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the second quarter worth about $33,000. Ulland Investment Advisors LLC grew its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group during the 2nd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada decreased their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $395.07.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Up 0.8 %

NYSE:CI traded up $2.56 on Tuesday, reaching $314.88. 65,995 shares of the stock traded hands, compared to its average volume of 1,520,666. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $87.58 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 0.96 and a beta of 0.51. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company’s fifty day simple moving average is $344.94 and its 200 day simple moving average is $341.23.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.