Cigna Group $CI Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC decreased its stake in shares of Cigna Group (NYSE:CI) by 62.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,714 shares of the health services provider’s stock after selling 2,815 shares during the quarter. Nemes Rush Group LLC’s holdings in Cigna Group were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. GQG Partners LLC purchased a new stake in shares of Cigna Group in the 2nd quarter valued at approximately $1,628,918,000. Bank of America Corp DE purchased a new stake in shares of Cigna Group during the 2nd quarter valued at approximately $827,692,000. Legal & General Group Plc purchased a new stake in shares of Cigna Group during the 2nd quarter valued at approximately $542,779,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Cigna Group during the 2nd quarter valued at approximately $241,312,000. Finally, BlackRock Inc. lifted its holdings in Cigna Group by 3.7% in the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock valued at $6,461,457,000 after acquiring an additional 840,098 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

Shares of CI stock opened at $295.37 on Tuesday. The firm’s 50 day moving average price is $286.14 and its 200-day moving average price is $282.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. Cigna Group has a one year low of $256.52 and a one year high of $318.05. The firm has a market cap of $78.05 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.03 and a beta of 0.25.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, November 5th. The health services provider reported $7.98 earnings per share for the quarter, topping analysts’ consensus estimates of $7.52 by $0.46. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The firm had revenue of $73.79 billion during the quarter, compared to analysts’ expectations of $72.64 billion. During the same quarter last year, the company posted $7.83 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts predict that Cigna Group will post 30.62 EPS for the current year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Cigna Group’s dividend payout ratio (DPR) is currently 27.54%.

Insider Buying and Selling at Cigna Group

In related news, insider Everett Neville sold 617 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the transaction, the insider owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,677 shares of Cigna Group stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the transaction, the insider directly owned 25,880 shares of the company’s stock, valued at approximately $7,236,306.80. This represents a 9.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $340.00 price objective on shares of Cigna Group in a research report on Friday. Guggenheim reduced their target price on Cigna Group from $361.00 to $347.00 and set a “buy” rating on the stock in a research report on Friday. UBS Group reaffirmed a “buy” rating on shares of Cigna Group in a research note on Thursday, October 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Cigna Group in a report on Friday, October 2nd. Finally, Robert W. Baird set a $362.00 price objective on Cigna Group in a research report on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $336.20.

Cigna Group Company Profile

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members.

Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.

The company serves customers in the United States and select international markets.