Pallas Capital Advisors LLC Sells 1,634 Shares of The Cigna Group (NYSE:CI)

Pallas Capital Advisors LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 37.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,760 shares of the health services provider’s stock after selling 1,634 shares during the period. Pallas Capital Advisors LLC’s holdings in The Cigna Group were worth $878,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Cedar Wealth Management LLC acquired a new stake in The Cigna Group in the 1st quarter valued at $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC grew its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group during the 2nd quarter worth about $66,000. Finally, Private Ocean LLC lifted its holdings in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Trading Up 1.5 %

CI opened at $313.00 on Thursday. The firm has a 50 day simple moving average of $347.15 and a 200 day simple moving average of $341.96. 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 $88.92 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.05 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 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 Announces Dividend

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 paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 45.98%.

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.