Covestor Ltd Sells 241 Shares of The Cigna Group (NYSE:CI)

Covestor Ltd reduced its position in The Cigna Group (NYSE:CI) by 44.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301 shares of the health services provider’s stock after selling 241 shares during the quarter. Covestor Ltd’s holdings in The Cigna Group were worth $110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Beaumont Financial Advisors LLC raised its holdings in The Cigna Group by 64.5% in the first quarter. Beaumont Financial Advisors LLC now owns 1,652 shares of the health services provider’s stock worth $600,000 after purchasing an additional 648 shares in the last quarter. Edgestream Partners L.P. bought a new position in The Cigna Group in the first quarter worth about $1,763,000. Ontario Teachers Pension Plan Board raised its holdings in The Cigna Group by 18.3% in the first quarter. Ontario Teachers Pension Plan Board now owns 20,294 shares of the health services provider’s stock worth $7,371,000 after purchasing an additional 3,141 shares in the last quarter. Acadian Asset Management LLC raised its holdings in The Cigna Group by 6.1% in the first quarter. Acadian Asset Management LLC now owns 53,529 shares of the health services provider’s stock worth $19,436,000 after purchasing an additional 3,063 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after purchasing an additional 2,017,333 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Cigna Group

In other news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock valued at $7,975,726 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CI shares. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, July 10th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. upped their target price on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Oppenheimer upped their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Trading Up 0.0 %

The Cigna Group stock traded up $0.02 during midday trading on Tuesday, reaching $335.81. 193,727 shares of the stock traded hands, compared to its average volume of 1,573,547. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a market cap of $95.39 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The company has a 50-day simple moving average of $335.06 and a two-hundred day simple moving average of $337.05. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.41 EPS. Research analysts expect that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

About The Cigna Group

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.