3Chopt Investment Partners LLC Sells 144 Shares of The Cigna Group (NYSE:CI)

3Chopt Investment Partners LLC lessened its stake in The Cigna Group (NYSE:CI) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,991 shares of the health services provider’s stock after selling 144 shares during the quarter. The Cigna Group comprises 0.9% of 3Chopt Investment Partners LLC’s investment portfolio, making the stock its 25th biggest position. 3Chopt Investment Partners LLC’s holdings in The Cigna Group were worth $2,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares during the last quarter. Hancock Whitney Corp raised its stake in The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after acquiring an additional 1,629 shares in the last quarter. ORG Partners LLC bought a new position in shares of The Cigna Group in the second quarter worth about $489,000. Public Employees Retirement Association of Colorado boosted its stake in shares of The Cigna Group by 845.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 44,382 shares of the health services provider’s stock valued at $13,290,000 after purchasing an additional 39,689 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $115,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.4 %

CI opened at $346.44 on Tuesday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a fifty day moving average of $348.38 and a 200-day moving average of $345.28. The stock has a market cap of $98.41 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during 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 business’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business posted $6.13 EPS. On average, sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s 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 completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CI shares. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler began coverage on The Cigna Group in a research 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 report on Monday, September 16th. Finally, Barclays lifted their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One 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 stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price 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.