Epoch Investment Partners Inc. Cuts Stake in The Cigna Group (NYSE:CI)

Epoch Investment Partners Inc. lowered its holdings in shares of The Cigna Group (NYSE:CI) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,127 shares of the health services provider’s stock after selling 563 shares during the quarter. Epoch Investment Partners Inc.’s holdings in The Cigna Group were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Procyon Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at approximately $204,000. SeaCrest Wealth Management LLC grew its holdings in The Cigna Group by 15.1% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,346 shares of the health services provider’s stock valued at $422,000 after buying an additional 177 shares in the last quarter. Blue Trust Inc. grew its holdings in The Cigna Group by 11.3% during the 4th quarter. Blue Trust Inc. now owns 913 shares of the health services provider’s stock valued at $261,000 after buying an additional 93 shares in the last quarter. Global Retirement Partners LLC grew its holdings in The Cigna Group by 12.5% during the 4th quarter. Global Retirement Partners LLC now owns 3,526 shares of the health services provider’s stock valued at $1,082,000 after buying an additional 391 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in The Cigna Group by 4.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,025 shares of the health services provider’s stock valued at $1,205,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.7 %

Shares of CI traded up $2.49 during trading hours on Friday, hitting $343.64. The company had a trading volume of 1,135,664 shares, compared to its average volume of 1,195,868. The company has a market capitalization of $97.62 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 1.05 and a beta of 0.52. 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 Cigna Group has a one year low of $253.95 and a one year high of $365.71. The company’s fifty day moving average price is $334.97 and its two-hundred day moving average price is $337.65.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion during 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 business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.41 EPS. As a group, equities analysts forecast 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 will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Oppenheimer raised their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Finally, Robert W. Baird initiated coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $376.20.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following 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. In the last three months, insiders sold 22,988 shares of company stock valued at $7,975,726. Corporate insiders own 0.60% of the company’s stock.

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.