Forsta AP Fonden Sells 6,800 Shares of The Cigna Group (NYSE:CI)

Forsta AP Fonden lowered its position in The Cigna Group (NYSE:CI) by 8.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,300 shares of the health services provider’s stock after selling 6,800 shares during the period. Forsta AP Fonden’s holdings in The Cigna Group were worth $25,884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Silicon Valley Capital Partners raised its position in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter valued at about $29,000. Raleigh Capital Management Inc. lifted its position in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the 2nd quarter worth about $33,000. Finally, Pineridge Advisors LLC bought a new stake in The Cigna Group during the 4th quarter worth about $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CI shares. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Tuesday. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Finally, Barclays upped their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $387.00.

The Cigna Group Trading Down 0.2 %

CI opened at $357.44 on Thursday. The firm’s fifty day moving average is $342.53 and its two-hundred day moving average is $343.92. The firm has a market cap of $101.54 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the business posted $6.13 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elder Granger sold 547 shares of the business’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 value of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 8,033 shares of company stock worth $2,757,740 over the last quarter. 0.60% of the stock is currently owned by company insiders.

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.