The Cigna Group (NYSE:CI) Holdings Decreased by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its stake in shares of The Cigna Group (NYSE:CI) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,404 shares of the health services provider’s stock after selling 78 shares during the quarter. Carnegie Investment Counsel’s holdings in The Cigna Group were worth $1,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EP Wealth Advisors LLC raised its position in The Cigna Group by 8.9% in the fourth quarter. EP Wealth Advisors LLC now owns 4,966 shares of the health services provider’s stock worth $1,487,000 after acquiring an additional 406 shares in the last quarter. Wellington Management Group LLP raised its position in The Cigna Group by 240.8% in the fourth quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after acquiring an additional 11,782 shares in the last quarter. Fisher Asset Management LLC raised its position in The Cigna Group by 16.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,550 shares of the health services provider’s stock worth $464,000 after acquiring an additional 214 shares in the last quarter. SageView Advisory Group LLC raised its position in The Cigna Group by 355.3% in the fourth quarter. SageView Advisory Group LLC now owns 4,034 shares of the health services provider’s stock worth $1,206,000 after acquiring an additional 3,148 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in The Cigna Group in the fourth quarter worth about $89,000. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the business’s 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 completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays lifted 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, Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Trading Up 0.3 %

Shares of NYSE CI opened at $351.45 on Tuesday. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.05 and a beta of 0.50. The business has a 50 day simple moving average of $349.32 and a 200 day simple moving average of $344.56. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. 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 announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.13 EPS. On average, research analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

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.