Truist Financial Corp Has $26.59 Million Holdings in The Cigna Group (NYSE:CI)

Truist Financial Corp cut its position in shares of The Cigna Group (NYSE:CI) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,431 shares of the health services provider’s stock after selling 3,959 shares during the period. Truist Financial Corp’s holdings in The Cigna Group were worth $26,588,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after buying an additional 867,180 shares in the last quarter. Dimensional Fund Advisors LP grew its position in The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after acquiring an additional 150,765 shares during the period. Ameriprise Financial Inc. raised its stake in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’s 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 completion of the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Trading Down 0.0 %

CI opened at $340.57 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a market cap of $96.75 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $348.58 and a 200 day simple moving average of $345.19.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate 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 company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the company posted $6.13 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler began coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $392.79.

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.