Ritholtz Wealth Management Sells 214 Shares of The Cigna Group (NYSE:CI)

Ritholtz Wealth Management trimmed its holdings in The Cigna Group (NYSE:CI) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,881 shares of the health services provider’s stock after selling 214 shares during the quarter. Ritholtz Wealth Management’s holdings in The Cigna Group were worth $1,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC bought a new position in The Cigna Group in the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. boosted its stake in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC bought a new position in The Cigna Group in the 4th quarter worth approximately $37,000. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was 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 in the company, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Insiders have sold a total of 9,033 shares of company stock worth $3,095,820 over the last quarter. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird assumed coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Monday, August 19th. Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Barclays upped their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $384.86.

The Cigna Group Stock Performance

NYSE:CI opened at $361.81 on Monday. The stock’s fifty day moving average is $338.24 and its 200 day moving average is $342.93. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The firm has a market capitalization of $101.14 billion, a PE ratio of 29.71, a PEG ratio of 1.10 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the prior year, the firm posted $6.13 EPS. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.55%. 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.