The Cigna Group (NYSE:CI) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC decreased its holdings in shares of The Cigna Group (NYSE:CI) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,551 shares of the health services provider’s stock after selling 117 shares during the quarter. GM Advisory Group LLC’s holdings in The Cigna Group were worth $3,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ieq Capital LLC boosted its stake in The Cigna Group by 9.3% in the second quarter. Ieq Capital LLC now owns 10,113 shares of the health services provider’s stock valued at $3,343,000 after acquiring an additional 860 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of The Cigna Group by 61.2% in the 2nd quarter. Intech Investment Management LLC now owns 65,750 shares of the health services provider’s stock valued at $21,735,000 after purchasing an additional 24,966 shares during the last quarter. XTX Topco Ltd boosted its position in shares of The Cigna Group by 461.6% in the 2nd quarter. XTX Topco Ltd now owns 3,420 shares of the health services provider’s stock valued at $1,131,000 after purchasing an additional 2,811 shares during the period. Altrius Capital Management Inc grew its stake in The Cigna Group by 1.9% during the 2nd quarter. Altrius Capital Management Inc now owns 13,728 shares of the health services provider’s stock worth $4,538,000 after buying an additional 251 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in The Cigna Group by 2.1% during the 2nd quarter. Blair William & Co. IL now owns 44,534 shares of the health services provider’s stock worth $14,721,000 after buying an additional 935 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated 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 transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the 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 completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CI. Robert W. Baird began coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. JPMorgan Chase & Co. raised 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 report on Wednesday, August 21st. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. One 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’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Price Performance

Shares of NYSE CI opened at $357.42 on Friday. 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 one year low of $253.95 and a one year high of $370.83. The firm has a market capitalization of $101.53 billion, a P/E ratio of 29.34, a PEG ratio of 1.09 and a beta of 0.50. The company’s fifty day moving average is $346.59 and its two-hundred day moving average is $344.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping 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 the consensus estimate of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. Analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is currently 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.