The Cigna Group (NYSE:CI) Shares Sold by Wealth Alliance

Wealth Alliance decreased its stake in shares of The Cigna Group (NYSE:CI) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,080 shares of the health services provider’s stock after selling 159 shares during the period. Wealth Alliance’s holdings in The Cigna Group were worth $688,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CI. Silicon Valley Capital Partners increased its stake in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares during the period. Cedar Wealth Management LLC acquired a new position in The Cigna Group during the 1st quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays lifted 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. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Performance

Shares of CI opened at $355.39 on Thursday. 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 cap of $100.96 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.09 and a beta of 0.50. The company has a 50-day moving average of $346.11 and a two-hundred day moving average of $344.75. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company posted $6.13 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

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.