AdvisorShares Investments LLC Trims Stock Position in The Cigna Group (NYSE:CI)

AdvisorShares Investments LLC lessened its holdings in shares of The Cigna Group (NYSE:CI) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,311 shares of the health services provider’s stock after selling 172 shares during the period. AdvisorShares Investments LLC’s holdings in The Cigna Group were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. AGF Management Ltd. raised its holdings in shares of The Cigna Group by 3.9% during the second quarter. AGF Management Ltd. now owns 8,543 shares of the health services provider’s stock worth $2,824,000 after purchasing an additional 319 shares during the last quarter. Factorial Partners LLC raised its holdings in shares of The Cigna Group by 6.0% during the second quarter. Factorial Partners LLC now owns 11,550 shares of the health services provider’s stock worth $3,818,000 after purchasing an additional 650 shares during the last quarter. Vaughan David Investments LLC IL raised its holdings in shares of The Cigna Group by 0.4% during the second quarter. Vaughan David Investments LLC IL now owns 141,857 shares of the health services provider’s stock worth $46,894,000 after purchasing an additional 540 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of The Cigna Group by 19.7% during the second quarter. MGO One Seven LLC now owns 3,613 shares of the health services provider’s stock worth $1,195,000 after purchasing an additional 594 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of The Cigna Group by 2.9% during the second quarter. Coldstream Capital Management Inc. now owns 4,504 shares of the health services provider’s stock worth $1,489,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several analyst reports. Robert W. Baird initiated coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Barclays raised their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $387.00.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated 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 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 available through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,033 shares of company stock worth $2,757,740. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

CI opened at $357.44 on Thursday. The firm has a market capitalization of $101.54 billion, a PE ratio of 29.35, a PEG ratio of 1.08 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64. The firm’s 50-day moving average price is $342.53 and its 200 day moving average price is $343.92. 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 (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $6.13 earnings per share. As a group, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s payout ratio 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.