The Cigna Group (NYSE:CI) Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. cut its position in shares of The Cigna Group (NYSE:CI) by 79.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,888 shares of the health services provider’s stock after selling 19,399 shares during the period. Simplify Asset Management Inc.’s holdings in The Cigna Group were worth $1,616,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Silicon Valley Capital Partners lifted its holdings in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the first quarter worth about $29,000. Raleigh Capital Management Inc. grew its stake in shares of The Cigna Group by 69.5% in the fourth 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 in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Trading Up 0.6 %

The Cigna Group stock opened at $357.42 on Friday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm’s 50-day moving average is $346.59 and its 200-day moving average is $344.83. 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 company has a market cap of $101.53 billion, a P/E ratio of 29.34, a PEG ratio of 1.09 and a beta of 0.50.

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

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CI shares. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Robert W. Baird assumed coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada restated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Finally, Barclays boosted their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Company 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.