Oppenheimer Asset Management Inc. Trims Position in The Cigna Group (NYSE:CI)

Oppenheimer Asset Management Inc. lowered its position in The Cigna Group (NYSE:CI) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,099 shares of the health services provider’s stock after selling 294 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Cigna Group were worth $12,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CI. Checchi Capital Advisers LLC increased its holdings in shares of The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares during the period. IFG Advisors LLC increased its stake in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after acquiring an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. raised its position in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares during the period. Finally, Capital Investment Advisors LLC lifted its stake in shares of The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 2.4 %

Shares of NYSE:CI opened at $331.75 on Thursday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm’s 50 day moving average price is $340.84 and its 200 day moving average price is $340.08. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market cap of $92.28 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. As a group, equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s payout ratio is currently 52.83%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CI. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Barclays lifted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $394.64.

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.