W.G. Shaheen & Associates DBA Whitney & Co Has $16.77 Million Stake in The Cigna Group (NYSE:CI)

W.G. Shaheen & Associates DBA Whitney & Co reduced its stake in shares of The Cigna Group (NYSE:CI) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,743 shares of the health services provider’s stock after selling 4,720 shares during the quarter. The Cigna Group comprises about 1.9% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 18th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in The Cigna Group were worth $16,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Norges Bank acquired a new position in The Cigna Group during the 4th quarter valued at about $1,006,348,000. Vanguard Group Inc. lifted its holdings in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. Focused Investors Fund L P bought a new position in The Cigna Group in the first quarter valued at approximately $205,529,000. Finally, Swedbank AB acquired a new stake in The Cigna Group during the 1st quarter worth $161,300,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CI. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Monday, August 19th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler assumed coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Finally, Barclays boosted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Trading Up 0.2 %

CI opened at $361.81 on Friday. The stock has a market capitalization of $101.14 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.10 and a beta of 0.52. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The firm’s fifty day simple moving average is $338.24 and its 200 day simple moving average is $342.86.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $6.13 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders 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 annualized dividend and a dividend yield of 1.55%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity

In related news, insider Brian C. Evanko sold 4,795 shares of the 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 transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock worth $3,095,820 over the last ninety days. Insiders own 0.60% of the company’s stock.

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.