Profund Advisors LLC Sells 154 Shares of The Cigna Group (NYSE:CI)

Profund Advisors LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,319 shares of the health services provider’s stock after selling 154 shares during the quarter. Profund Advisors LLC’s holdings in The Cigna Group were worth $1,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC increased its holdings in The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after buying an additional 29 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its stake in The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.3 %

CI stock opened at $354.92 on Tuesday. The company’s 50 day moving average is $347.49 and its 200 day moving average is $345.17. The stock has a market cap of $100.82 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 analyst estimates of $58.30 billion. During the same quarter in the prior year, the firm earned $6.13 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction 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 transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CI has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Monday, September 16th. Robert W. Baird began coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $392.79.

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.