Valley National Advisers Inc. Cuts Stake in The Cigna Group (NYSE:CI)

Valley National Advisers Inc. cut its holdings in shares of The Cigna Group (NYSE:CI) by 5.9% during the 1st quarter, HoldingsChannel reports. The fund owned 831 shares of the health services provider’s stock after selling 52 shares during the quarter. Valley National Advisers Inc.’s holdings in The Cigna Group were worth $301,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $29,000. Raleigh Capital Management Inc. boosted its position in 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 valued at $30,000 after buying an additional 41 shares during the period. VisionPoint Advisory Group LLC grew its holdings in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of The Cigna Group in the fourth quarter valued at about $37,000. Finally, Pacifica Partners Inc. raised its stake in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $325.07 on Thursday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The company has a market capitalization of $92.34 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52. The firm has a 50 day moving average of $340.15 and a 200 day moving average of $333.85. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the previous year, the firm posted $5.41 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

Several research firms recently issued reports on CI. Barclays started coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. raised their price target on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $376.20.

Insider Transactions at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock valued at $7,975,726 over the last quarter. 0.70% of the stock is currently owned by company insiders.

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.