Hennion & Walsh Asset Management Inc. Decreases Holdings in The Cigna Group (NYSE:CI)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of The Cigna Group (NYSE:CI) by 44.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 789 shares of the health services provider’s stock after selling 619 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The Cigna Group were worth $273,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Monument Capital Management purchased a new position in The Cigna Group in the 1st quarter worth approximately $222,000. Norden Group LLC increased its stake in The Cigna Group by 1,856.4% in the 1st quarter. Norden Group LLC now owns 37,680 shares of the health services provider’s stock worth $13,686,000 after purchasing an additional 35,754 shares during the period. Kovack Advisors Inc. purchased a new position in The Cigna Group in the 1st quarter worth approximately $214,000. RBA Wealth Management LLC increased its stake in The Cigna Group by 2.3% in the 1st quarter. RBA Wealth Management LLC now owns 10,349 shares of the health services provider’s stock worth $3,759,000 after purchasing an additional 229 shares during the period. Finally, FCG Investment Co increased its stake in The Cigna Group by 46.1% in the 1st quarter. FCG Investment Co now owns 3,633 shares of the health services provider’s stock worth $1,319,000 after purchasing an additional 1,147 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the business’s 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 completion of the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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.

The Cigna Group Trading Down 2.1 %

The Cigna Group stock opened at $308.23 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $347.73 and its two-hundred day simple moving average is $342.16. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a market capitalization of $87.56 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping 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 business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the previous year, the company posted $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.82%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analyst Ratings Changes

CI has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays boosted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $392.79.

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.