Sei Investments Co. Has $108.94 Million Stake in The Cigna Group (NYSE:CI)

Sei Investments Co. reduced its holdings in The Cigna Group (NYSE:CI) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 329,562 shares of the health services provider’s stock after selling 42,414 shares during the period. Sei Investments Co. owned 0.12% of The Cigna Group worth $108,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners raised its holdings in The Cigna Group by 100.0% during the first 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 acquired a new position in shares of The Cigna Group during the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. raised its stake in shares of The Cigna Group by 69.5% during the 4th 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 acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at $37,000. 86.99% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the firm’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 transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.3 %

Shares of The Cigna Group stock opened at $356.14 on Friday. 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 firm has a 50-day moving average of $347.02 and a 200-day moving average of $344.97. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market cap of $101.17 billion, a PE ratio of 29.24, a PEG ratio of 1.09 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the prior year, the business posted $6.13 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CI shares. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler began coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.