Jacobs Levy Equity Management Inc. Sells 5,784 Shares of The Cigna Group (NYSE:CI)

Jacobs Levy Equity Management Inc. lowered its holdings in The Cigna Group (NYSE:CI) by 7.4% in the 1st quarter, HoldingsChannel reports. The firm owned 72,219 shares of the health services provider’s stock after selling 5,784 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in The Cigna Group were worth $26,229,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CI. Vanguard Group Inc. raised its stake in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Sanders Capital LLC grew its position in The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after purchasing an additional 97,277 shares during the last quarter. Norges Bank purchased a new stake in The Cigna Group during the 4th quarter worth approximately $1,006,348,000. Finally, Parnassus Investments LLC grew its position in The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after purchasing an additional 126,598 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI traded up $6.23 during mid-day trading on Tuesday, reaching $352.77. The company’s stock had a trading volume of 900,505 shares, compared to its average volume of 1,555,708. The stock has a 50-day moving average of $335.24 and a two-hundred day moving average of $338.14. The stock has a market capitalization of $100.21 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.05 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the prior year, the business earned $5.41 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts anticipate that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Finally, Oppenheimer increased their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $376.20.

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.