The Cigna Group (NYSE:CI) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its stake in The Cigna Group (NYSE:CI) by 19.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,122 shares of the health services provider’s stock after selling 527 shares during the quarter. OLD National Bancorp IN’s holdings in The Cigna Group were worth $735,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CI. Wellington Management Group LLP boosted its position in shares of The Cigna Group by 240.8% during the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after purchasing an additional 11,782 shares during the period. Fisher Asset Management LLC boosted its position in shares of The Cigna Group by 16.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,550 shares of the health services provider’s stock worth $464,000 after buying an additional 214 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of The Cigna Group in the first quarter valued at $5,421,000. Riverview Trust Co purchased a new stake in shares of The Cigna Group in the 1st quarter valued at $96,000. Finally, Dynamic Advisor Solutions LLC lifted its stake in The Cigna Group by 13.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,290 shares of the health services provider’s stock worth $1,558,000 after acquiring an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In related 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 transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CI. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Tuesday, October 1st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted 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. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One investment 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 stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Performance

Shares of CI stock opened at $320.23 on Tuesday. The stock’s 50-day moving average is $350.50 and its two-hundred day moving average is $343.89. 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 has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a market cap of $90.97 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced 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 business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $6.13 earnings per share. Analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders 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 annualized dividend and a dividend yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

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.