Joel Isaacson & Co. LLC Decreases Stake in The Cigna Group (NYSE:CI)

Joel Isaacson & Co. LLC reduced its position in The Cigna Group (NYSE:CI) by 9.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,990 shares of the health services provider’s stock after selling 419 shares during the period. Joel Isaacson & Co. LLC’s holdings in The Cigna Group were worth $1,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new position in The Cigna Group in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC raised its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at about $66,000. Finally, Private Ocean LLC raised its stake in shares of The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

NYSE CI opened at $316.78 on Friday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. 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 stock has a market cap of $89.99 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a 50-day moving average price of $349.48 and a two-hundred day moving average price of $343.22.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same period last year, the firm posted $6.13 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. Analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CI. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $392.79.

Insider Activity at The Cigna Group

In related news, 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 transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.