Premier Path Wealth Partners LLC Cuts Stock Position in The Cigna Group (NYSE:CI)

Premier Path Wealth Partners LLC cut its holdings in The Cigna Group (NYSE:CI) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,675 shares of the health services provider’s stock after selling 46 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in The Cigna Group were worth $554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares during the period. Sanders Capital LLC raised its holdings in The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after purchasing an additional 97,277 shares during the period. Norges Bank bought a new position in The Cigna Group in the 4th quarter worth $1,006,348,000. Finally, Parnassus Investments LLC raised its holdings in The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after purchasing an additional 126,598 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 2.2 %

NYSE CI traded up $7.52 during trading on Friday, hitting $353.99. The stock had a trading volume of 1,425,818 shares, compared to its average volume of 1,544,043. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $100.56 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 1.02 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The stock has a 50 day simple moving average of $336.09 and a 200 day simple moving average of $341.99.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the firm posted $6.13 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Announces Dividend

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 paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,033 shares of company stock valued at $3,095,820. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Monday, August 19th. Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $384.86.

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.