Sky Investment Group LLC Sells 125 Shares of The Cigna Group (NYSE:CI)

Sky Investment Group LLC cut its stake in The Cigna Group (NYSE:CI) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,114 shares of the health services provider’s stock after selling 125 shares during the quarter. Sky Investment Group LLC’s holdings in The Cigna Group were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. Vanguard Group Inc. lifted its holdings in shares of The Cigna Group by 8.1% in 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in The Cigna Group by 6.4% in 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 period. AQR Capital Management LLC lifted its stake in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares during the last quarter. Swedbank AB purchased a new position in shares of The Cigna Group during the first quarter valued at approximately $161,300,000. Finally, Ameriprise Financial Inc. grew its stake in shares of The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after buying an additional 405,694 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CI shares. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group upped their price target 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. StockNews.com raised shares of 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 shares of 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $392.79.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Down 0.6 %

NYSE CI traded down $1.82 during midday trading on Tuesday, hitting $318.41. 317,360 shares of the company traded hands, compared to its average volume of 1,490,788. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company’s 50-day simple moving average is $350.50 and its 200-day simple moving average is $343.89. The company has a market cap of $90.45 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The company 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 firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.13 earnings per share. As a group, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The Cigna Group’s payout ratio is 45.98%.

About The Cigna Group

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.