Allworth Financial LP Cuts Stock Position in The Cigna Group (NYSE:CI)

Allworth Financial LP trimmed its position in The Cigna Group (NYSE:CI) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,794 shares of the health services provider’s stock after selling 33 shares during the quarter. Allworth Financial LP’s holdings in The Cigna Group were worth $2,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Trueblood Wealth Management LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter worth $216,000. Ballentine Partners LLC boosted its holdings in The Cigna Group by 9.8% in the third quarter. Ballentine Partners LLC now owns 7,726 shares of the health services provider’s stock worth $2,677,000 after acquiring an additional 691 shares in the last quarter. Busey Bank grew its stake in shares of The Cigna Group by 3.1% during the third quarter. Busey Bank now owns 52,708 shares of the health services provider’s stock worth $18,260,000 after acquiring an additional 1,607 shares during the last quarter. Mainstay Capital Management LLC ADV acquired a new position in shares of The Cigna Group during the third quarter valued at about $206,000. Finally, Mount Yale Investment Advisors LLC raised its position in shares of The Cigna Group by 2.5% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 1,733 shares of the health services provider’s stock valued at $600,000 after purchasing an additional 42 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $316.85 on Monday. The firm has a market cap of $90.01 billion, a PE ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50. The business has a 50-day moving average price of $348.97 and a 200 day moving average price of $342.73. 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 has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share 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 during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the company posted $6.13 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analysts Set New Price Targets

Several analysts have weighed in on CI shares. Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.79.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was 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 approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

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.