The Cigna Group (NYSE:CI) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 17.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,045 shares of the health services provider’s stock after selling 1,260 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in The Cigna Group were worth $1,998,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CI. Scotia Capital Inc. boosted its position in The Cigna Group by 13.4% in the fourth quarter. Scotia Capital Inc. now owns 2,045 shares of the health services provider’s stock valued at $612,000 after buying an additional 242 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in The Cigna Group by 26.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 3,159 shares of the health services provider’s stock valued at $946,000 after acquiring an additional 653 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of The Cigna Group by 12.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,317 shares of the health services provider’s stock valued at $394,000 after acquiring an additional 142 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of The Cigna Group by 1.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 70,145 shares of the health services provider’s stock worth $21,005,000 after acquiring an additional 1,268 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of The Cigna Group by 221.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 38,256 shares of the health services provider’s stock worth $11,456,000 after purchasing an additional 26,364 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 2.1 %

CI opened at $340.64 on Thursday. The company has a market cap of $96.77 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a 50-day moving average price of $348.58 and a 200 day moving average price of $345.22. 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 (NYSE:CI) last released 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 business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.13 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Barclays boosted their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 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’s stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $392.79.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the business’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 transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.