Fidelis Capital Partners LLC Reduces Position in The Cigna Group (NYSE:CI)

Fidelis Capital Partners LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 15.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,827 shares of the health services provider’s stock after selling 327 shares during the period. Fidelis Capital Partners LLC’s holdings in The Cigna Group were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Silicon Valley Capital Partners boosted its position 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 worth $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in The Cigna Group in the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its holdings in The Cigna Group by 69.5% during the fourth 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 in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.3 %

Shares of CI stock opened at $356.14 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm’s 50 day moving average price is $347.02 and its two-hundred day moving average price is $345.09. The stock has a market cap of $101.17 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its 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 net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the previous year, the business posted $6.13 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. On average, analysts anticipate 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 was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Analysts Set New Price Targets

Several research firms have issued reports on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s 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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

About The Cigna Group

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.