Somerville Kurt F lowered its stake in Cigna Group (NYSE:CI – Free Report) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270 shares of the health services provider’s stock after selling 50 shares during the period. Somerville Kurt F’s holdings in Cigna Group were worth $420,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Flaharty Asset Management LLC bought a new position in Cigna Group in the first quarter valued at about $28,000. 1248 Management LLC acquired a new position in Cigna Group during the 1st quarter valued at about $29,000. Activest Wealth Management boosted its stake in shares of Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC grew its position in shares of Cigna Group by 74.1% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after buying an additional 43 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of Cigna Group during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 86.99% of the company’s stock.
Cigna Group Stock Up 1.4%
Shares of Cigna Group stock opened at $307.21 on Wednesday. The company has a market capitalization of $82.00 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average of $292.94 and a two-hundred day moving average of $309.54. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88.
Cigna Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Barclays lifted their target price on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Truist Financial set a $375.00 price target on Cigna Group in a research report on Tuesday, September 2nd. Wells Fargo & Company upped their price objective on Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday. Wall Street Zen cut Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $372.69.
View Our Latest Analysis on CI
Insider Buying and Selling at Cigna Group
In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the sale, the insider owned 51,182 shares of the company’s stock, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
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.
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