Patriot Financial Group Insurance Agency LLC reduced its position in shares of Cigna Group (NYSE:CI – Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,575 shares of the health services provider’s stock after selling 41 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Cigna Group were worth $1,843,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Modern Wealth Management LLC raised its position in Cigna Group by 91.3% during the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after purchasing an additional 1,494 shares in the last quarter. Acadian Asset Management LLC raised its position in Cigna Group by 277.5% during the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock valued at $2,718,000 after purchasing an additional 6,082 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cigna Group during the first quarter valued at approximately $431,000. NBC Securities Inc. acquired a new position in Cigna Group during the first quarter valued at approximately $123,000. Finally, Integrity Alliance LLC. acquired a new position in Cigna Group during the first quarter valued at approximately $617,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.
Cigna Group Stock Performance
Shares of Cigna Group stock opened at $296.95 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The stock has a market cap of $79.27 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 0.85 and a beta of 0.45. The company’s fifty day moving average is $292.12 and its 200 day moving average is $309.88.
Cigna Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s payout ratio is currently 32.97%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on CI shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a research note on Tuesday, August 26th. Barclays boosted their target price on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Truist Financial set a $375.00 target price on shares of Cigna Group in a research note on Tuesday, September 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $371.81.
Read Our Latest Stock Report on CI
Insider Buying and Selling
In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.
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.
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