Fidelis Capital Partners LLC Cuts Stake in The Cigna Group (NYSE:CI)

Fidelis Capital Partners LLC cut its stake in The Cigna Group (NYSE:CI) by 15.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,827 shares of the health services provider’s stock after selling 327 shares during the quarter. Fidelis Capital Partners LLC’s holdings in The Cigna Group were worth $601,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gryphon Financial Partners LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $230,000. Clearbridge Investments LLC acquired a new stake in The Cigna Group during the 4th quarter worth $490,000. Quest Partners LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth $53,000. Aigen Investment Management LP acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $301,000. Finally, Congress Wealth Management LLC DE raised its position in shares of The Cigna Group by 14.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,067 shares of the health services provider’s stock valued at $1,817,000 after buying an additional 761 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

NYSE:CI opened at $356.14 on Monday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. 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 company has a 50 day moving average price of $347.02 and a 200 day moving average price of $345.09. The stock has a market capitalization of $101.17 billion, a P/E ratio of 29.24, a PEG ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released 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 analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business posted $6.13 earnings per share. Equities research analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analysts Set New Price Targets

CI has been the topic of a number of recent research reports. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Piper Sandler initiated coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $392.79.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.