Wealthspire Advisors LLC Sells 318 Shares of The Cigna Group (NYSE:CI)

Wealthspire Advisors LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 16.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,649 shares of the health services provider’s stock after selling 318 shares during the period. Wealthspire Advisors LLC’s holdings in The Cigna Group were worth $545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $230,000. Avantax Advisory Services Inc. boosted its stake in shares of The Cigna Group by 11.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,328 shares of the health services provider’s stock valued at $997,000 after purchasing an additional 340 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of The Cigna Group by 6.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 841 shares of the health services provider’s stock worth $258,000 after purchasing an additional 54 shares during the last quarter. Independent Advisor Alliance raised its holdings in The Cigna Group by 12.9% in the 4th quarter. Independent Advisor Alliance now owns 1,481 shares of the health services provider’s stock valued at $444,000 after buying an additional 169 shares during the last quarter. Finally, ING Groep NV boosted its position in The Cigna Group by 44,083.0% during the 4th quarter. ING Groep NV now owns 20,766 shares of the health services provider’s stock worth $6,218,000 after buying an additional 20,719 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Up 0.6 %

CI stock opened at $367.07 on Tuesday. The stock’s 50 day simple moving average is $345.05 and its 200 day simple moving average is $344.51. The company has a market cap of $104.28 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

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 for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the firm earned $6.13 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors 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 dividend yield of 1.53%. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CI. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One equities research 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 Cigna Group presently has an average rating of “Buy” and a consensus target price of $387.00.

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.