The Cigna Group (NYSE:CI) Shares Sold by ASB Consultores LLC

ASB Consultores LLC cut its position in The Cigna Group (NYSE:CI) by 38.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,444 shares of the health services provider’s stock after selling 918 shares during the quarter. ASB Consultores LLC’s holdings in The Cigna Group were worth $477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Silicon Valley Capital Partners raised its stake in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC bought a new position in The Cigna Group in the 1st quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter worth about $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.6 %

CI opened at $357.42 on Friday. The business has a 50 day moving average of $346.59 and a 200-day moving average of $344.83. The stock has a market capitalization of $101.53 billion, a price-to-earnings ratio of 29.34, a P/E/G 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 earnings per share for the quarter, beating 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 net margin of 1.70% and a return on equity of 17.83%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.13 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders 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 annualized dividend and a yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the business’s 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 sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CI shares. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, 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.