Private Advisor Group LLC Reduces Stock Position in The Cigna Group (NYSE:CI)

Private Advisor Group LLC reduced its holdings in shares of The Cigna Group (NYSE:CI) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,221 shares of the health services provider’s stock after selling 899 shares during the quarter. Private Advisor Group LLC’s holdings in The Cigna Group were worth $7,005,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of The Cigna Group by 240.8% in the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock valued at $4,993,000 after purchasing an additional 11,782 shares during the period. Wealthcare Advisory Partners LLC grew its position in shares of The Cigna Group by 7.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,484 shares of the health services provider’s stock worth $539,000 after acquiring an additional 104 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in The Cigna Group by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,778 shares of the health services provider’s stock valued at $12,631,000 after purchasing an additional 3,066 shares during the last quarter. Transform Wealth LLC acquired a new stake in The Cigna Group during the 1st quarter worth $233,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in The Cigna Group during the 1st quarter worth $291,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $316.78 on Friday. The stock’s 50 day moving average price is $349.48 and its 200 day moving average price is $343.22. The firm has a market cap of $89.99 billion, a P/E ratio of 26.01, a PEG ratio of 1.05 and a beta of 0.50. 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 Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during 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 was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.13 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.77%. The Cigna Group’s payout ratio is currently 45.98%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CI. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday. JPMorgan Chase & Co. increased their price target on 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 reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $392.79.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% 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.