The Cigna Group (NYSE:CI) Stake Lessened by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in The Cigna Group (NYSE:CI) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,955 shares of the health services provider’s stock after selling 966 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in The Cigna Group were worth $8,580,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CI. Vontobel Holding Ltd. raised its holdings in shares of The Cigna Group by 10.3% during the fourth quarter. Vontobel Holding Ltd. now owns 19,710 shares of the health services provider’s stock worth $5,902,000 after acquiring an additional 1,847 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of The Cigna Group by 8.4% during the fourth quarter. Mackenzie Financial Corp now owns 147,414 shares of the health services provider’s stock worth $44,143,000 after acquiring an additional 11,416 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of The Cigna Group by 1.8% during the fourth quarter. Capital Analysts LLC now owns 8,912 shares of the health services provider’s stock worth $2,669,000 after acquiring an additional 158 shares in the last quarter. Eads & Heald Wealth Management raised its holdings in shares of The Cigna Group by 2.1% during the fourth quarter. Eads & Heald Wealth Management now owns 2,167 shares of the health services provider’s stock worth $649,000 after acquiring an additional 44 shares in the last quarter. Finally, United Asset Strategies Inc. raised its holdings in shares of The Cigna Group by 1.6% during the fourth quarter. United Asset Strategies Inc. now owns 45,544 shares of the health services provider’s stock worth $13,638,000 after acquiring an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction on Monday, June 17th. The stock was 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 sold 6,342 shares of company stock worth $2,173,668 in the last quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent research reports. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $384.64.

The Cigna Group Price Performance

Shares of NYSE:CI traded up $2.15 during trading on Wednesday, reaching $334.87. The stock had a trading volume of 621,075 shares, compared to its average volume of 1,571,466. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The business’s 50-day moving average price is $335.08 and its 200 day moving average price is $340.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $95.13 billion, a PE ratio of 27.49, a P/E/G ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the company posted $6.13 earnings per share. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts predict that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

About The Cigna Group

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.