Hudson Edge Investment Partners Inc. Sells 1,056 Shares of The Cigna Group (NYSE:CI)

Hudson Edge Investment Partners Inc. lowered its stake in The Cigna Group (NYSE:CI) by 36.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,847 shares of the health services provider’s stock after selling 1,056 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in The Cigna Group were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CI. Van ECK Associates Corp raised its position in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after buying an additional 625 shares in the last quarter. TFO Wealth Partners LLC boosted its position in shares of The Cigna Group by 98,980.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after acquiring an additional 4,949 shares during the last quarter. Hancock Whitney Corp boosted its position in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after acquiring an additional 1,629 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of The Cigna Group by 63.5% during the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock worth $30,475,000 after purchasing an additional 39,530 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of The Cigna Group in the second quarter worth approximately $489,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.5 %

Shares of CI traded down $1.63 during trading hours on Friday, reaching $353.49. 2,363,544 shares of the company traded hands, compared to its average volume of 1,540,366. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.64. The company has a market capitalization of $100.42 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.50. The company’s fifty day moving average price is $340.62 and its two-hundred day moving average price is $343.61. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last released 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 company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.13 earnings per share. Equities research analysts predict that The Cigna Group will post 28.5 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. Investors of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 547 shares of the firm’s 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 sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock worth $3,095,820 in the last 90 days. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays increased their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $384.86.

The 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.