The Cigna Group (NYSE:CI) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its position in The Cigna Group (NYSE:CI) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,300 shares of the health services provider’s stock after selling 1,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in The Cigna Group were worth $39,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its holdings in The Cigna Group by 8.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 122,333 shares of the health services provider’s stock worth $42,381,000 after buying an additional 9,508 shares in the last quarter. National Pension Service raised its stake in shares of The Cigna Group by 13.4% in the 3rd quarter. National Pension Service now owns 619,117 shares of the health services provider’s stock valued at $214,487,000 after purchasing an additional 73,027 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at about $69,000. Lansing Street Advisors acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at about $297,000. Finally, Angeles Wealth Management LLC raised its stake in shares of The Cigna Group by 30.2% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,418 shares of the health services provider’s stock valued at $491,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CI shares. 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, October 23rd. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, 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. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $392.29.

The Cigna Group Stock Performance

NYSE CI traded down $0.62 on Monday, hitting $315.87. The stock had a trading volume of 286,617 shares, compared to its average volume of 1,520,881. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market cap of $88.30 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 0.95 and a beta of 0.51. The company’s 50-day moving average is $345.77 and its two-hundred day moving average is $341.48.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm posted $6.77 earnings per share. On average, analysts expect that The Cigna Group will post 28.48 earnings per share 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. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.