Axiom Advisory LLC Decreases Stock Position in The Cigna Group (NYSE:CI)

Axiom Advisory LLC trimmed its position in shares of The Cigna Group (NYSE:CI) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,352 shares of the health services provider’s stock after selling 804 shares during the quarter. Axiom Advisory LLC’s holdings in The Cigna Group were worth $7,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CI. Kesler Norman & Wride LLC bought a new position in shares of The Cigna Group during the third quarter valued at approximately $692,000. Bath Savings Trust Co boosted its holdings in The Cigna Group by 3.2% during the 3rd quarter. Bath Savings Trust Co now owns 6,405 shares of the health services provider’s stock valued at $2,219,000 after acquiring an additional 200 shares during the period. Miracle Mile Advisors LLC grew its position in The Cigna Group by 0.7% in the 3rd quarter. Miracle Mile Advisors LLC now owns 16,576 shares of the health services provider’s stock valued at $5,743,000 after acquiring an additional 113 shares during the last quarter. GAMMA Investing LLC increased its stake in The Cigna Group by 45.2% in the third quarter. GAMMA Investing LLC now owns 3,611 shares of the health services provider’s stock worth $1,251,000 after purchasing an additional 1,124 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of The Cigna Group by 4.1% during the third quarter. Handelsbanken Fonder AB now owns 77,222 shares of the health services provider’s stock worth $26,753,000 after purchasing an additional 3,013 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred 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 owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CI shares. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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 data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Trading Down 0.4 %

The Cigna Group stock opened at $340.28 on Tuesday. The Cigna Group has a one year low of $253.95 and a one year 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 stock has a market cap of $96.66 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The stock has a 50-day moving average of $348.53 and a two-hundred day moving average of $345.00.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (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 period in the prior year, the firm posted $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors 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 dividend on an annualized basis and a yield of 1.65%. The Cigna Group’s dividend payout ratio is currently 45.98%.

The Cigna Group Company 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.