The Cigna Group (NYSE:CI) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in The Cigna Group (NYSE:CI) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,264 shares of the health services provider’s stock after selling 1,275 shares during the period. Pacer Advisors Inc.’s holdings in The Cigna Group were worth $7,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CI. Silicon Valley Capital Partners boosted its stake in shares of The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group in the first quarter worth approximately $29,000. Raleigh Capital Management Inc. boosted its stake in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday, September 16th. Robert W. Baird assumed 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. Finally, Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Price Performance

CI stock opened at $354.92 on Tuesday. 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 company has a market capitalization of $100.82 billion, a PE ratio of 29.14, a P/E/G ratio of 1.09 and a beta of 0.50. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The business’s fifty day moving average price is $347.49 and its 200 day moving average price is $345.17.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.13 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is 45.98%.

The Cigna Group 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.