Sawyer & Company Inc Lowers Stake in The Cigna Group (NYSE:CI)

Sawyer & Company Inc lessened its position in shares of The Cigna Group (NYSE:CIFree Report) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,415 shares of the health services provider’s stock after selling 78 shares during the period. Sawyer & Company Inc’s holdings in The Cigna Group were worth $837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CI. Van ECK Associates Corp lifted its holdings in shares of The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after purchasing an additional 625 shares during the last quarter. Hancock Whitney Corp increased its position in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the period. ORG Partners LLC bought a new stake in shares of The Cigna Group during the 2nd quarter worth $489,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of The Cigna Group by 21.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock worth $34,304,000 after acquiring an additional 16,846 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.1 %

The Cigna Group stock traded down $0.20 during midday trading on Friday, hitting $350.30. 786,700 shares of the stock were exchanged, compared to its average volume of 1,480,193. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $99.51 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The business’s 50-day moving average price is $348.81 and its 200-day moving average price is $344.77.

The Cigna Group (NYSE:CIGet Free Report) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 1.70% and a return on equity of 17.83%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.13 earnings per share. On average, research analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Finally, 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. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $392.79.

Get Our Latest Research Report on The Cigna Group

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

About The Cigna Group

(Free Report)

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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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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