Crossmark Global Holdings Inc. Sells 3,410 Shares of The Cigna Group (NYSE:CI)

Crossmark Global Holdings Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 2.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 116,240 shares of the health services provider’s stock after selling 3,410 shares during the period. The Cigna Group comprises approximately 0.7% of Crossmark Global Holdings Inc.’s portfolio, making the stock its 19th biggest position. Crossmark Global Holdings Inc.’s holdings in The Cigna Group were worth $40,270,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CI. Vanguard Group Inc. increased its position in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after purchasing an additional 150,765 shares during the period. Ameriprise Financial Inc. raised its position in shares of The Cigna Group by 23.4% in 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 purchasing an additional 405,694 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CI shares. Royal Bank of Canada lowered 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, November 1st. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $394.64.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction 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 transaction, the director now 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 document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Up 0.1 %

Shares of CI traded up $0.28 during midday trading on Friday, reaching $319.77. 1,315,168 shares of the stock were exchanged, compared to its average volume of 2,002,435. The company’s 50 day moving average is $341.73 and its two-hundred day moving average is $340.43. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a market capitalization of $88.94 billion, a P/E ratio of 30.17, a PEG ratio of 0.95 and a beta of 0.51.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the business posted $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 1.75%. The Cigna Group’s payout ratio is currently 52.83%.

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.