One Way Holdings LLC Buys New Position in Cigna Group $CI

One Way Holdings LLC purchased a new position in Cigna Group (NYSE:CI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 44,042 shares of the health services provider’s stock, valued at approximately $11,972,000.

A number of other institutional investors have also recently made changes to their positions in the business. Heritage Investors Management Corp raised its holdings in shares of Cigna Group by 1.9% in the third quarter. Heritage Investors Management Corp now owns 17,843 shares of the health services provider’s stock worth $4,850,000 after buying an additional 330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Cigna Group during the 3rd quarter valued at about $24,386,000. Aviance Capital Partners LLC increased its holdings in shares of Cigna Group by 3.4% in the third quarter. Aviance Capital Partners LLC now owns 20,897 shares of the health services provider’s stock valued at $5,680,000 after purchasing an additional 690 shares during the period. ProShare Advisors LLC increased its stake in shares of Cigna Group by 2.6% in the third quarter. ProShare Advisors LLC now owns 49,517 shares of the health services provider’s stock worth $13,460,000 after acquiring an additional 1,258 shares during the period. Finally, Cidel Asset Management Inc. raised its holdings in shares of Cigna Group by 8.2% during the third quarter. Cidel Asset Management Inc. now owns 7,619 shares of the health services provider’s stock worth $2,071,000 after purchasing an additional 578 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CI. Raymond James Financial lowered shares of Cigna Group from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $350.00 to $320.00 in a research report on Monday, August 3rd. Piper Sandler restated an “overweight” rating on shares of Cigna Group in a research report on Friday, October 23rd. UBS Group restated a “buy” rating on shares of Cigna Group in a research note on Thursday, October 1st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Cigna Group in a report on Friday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research report on Thursday, August 27th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $338.24.

Insider Buying and Selling at Cigna Group

In related news, insider Nicole Jones sold 19,436 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $276.27, for a total value of $5,369,583.72. Following the completion of the transaction, the insider directly owned 27,256 shares of the company’s stock, valued at approximately $7,530,015.12. This represents a 41.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the transaction, the insider owned 5,053 shares in the company, valued at $1,435,304.65. The trade was a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 22,730 shares of company stock valued at $6,293,359. 0.60% of the stock is owned by corporate insiders.

Cigna Group Stock Down 0.0%

Shares of NYSE CI opened at $298.13 on Monday. The firm has a market cap of $78.78 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.29. The company’s 50-day simple moving average is $283.86 and its 200-day simple moving average is $281.53. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. Cigna Group has a 52-week low of $239.51 and a 52-week high of $316.27.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, topping the consensus estimate of $7.60 by $0.18. The company had revenue of $71.56 billion during the quarter, compared to analyst estimates of $70.14 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%. Cigna Group’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $7.20 EPS. Equities analysts predict that Cigna Group will post 30.49 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Cigna Group’s payout ratio is presently 25.82%.

Cigna Group Company Profile

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.