Hudson Edge Investment Partners Inc. Sells 1,056 Shares of The Cigna Group (NYSE:CI)

Hudson Edge Investment Partners Inc. decreased its position in The Cigna Group (NYSE:CI) by 36.4% during the second quarter, Holdings Channel reports. The fund owned 1,847 shares of the health services provider’s stock after selling 1,056 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in The Cigna Group were worth $611,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital Asset Advisory Services LLC increased its stake in shares of The Cigna Group by 2.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after purchasing an additional 29 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its position in The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after buying an additional 32 shares during the period. Finally, Saxony Capital Management LLC lifted its position in shares of The Cigna Group by 5.3% during the 2nd quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after buying an additional 32 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 547 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now directly 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 this hyperlink. In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock valued at $3,095,820 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of a number of recent analyst reports. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. 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 price objective on the stock. Piper Sandler began coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Price Performance

Shares of CI stock traded down $1.63 during trading hours on Friday, hitting $353.49. The stock had a trading volume of 2,363,544 shares, compared to its average volume of 1,540,366. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $100.42 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.10 and a beta of 0.50. The Cigna Group has a one year low of $253.95 and a one year high of $370.64. The stock’s 50-day moving average price is $340.62 and its two-hundred day moving average price is $343.61.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.13 EPS. Equities analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders 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 annualized dividend and a yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

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.