Barrow Hanley Mewhinney & Strauss LLC Sells 150,950 Shares of The Cigna Group (NYSE:CI)

Barrow Hanley Mewhinney & Strauss LLC trimmed its position in The Cigna Group (NYSE:CI) by 33.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,364 shares of the health services provider’s stock after selling 150,950 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 0.11% of The Cigna Group worth $101,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after acquiring an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Focused Investors Fund L P acquired a new stake in The Cigna Group in the 1st quarter valued at approximately $205,529,000. Swedbank AB bought a new position in The Cigna Group in the 1st quarter worth approximately $161,300,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in The Cigna Group by 526.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock worth $120,174,000 after buying an additional 305,490 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CI shares. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $392.79.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s 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 completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’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 transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian C. Evanko sold 4,795 shares of the business’s 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 sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $356.14 on Friday. The company’s fifty day moving average is $347.02 and its 200-day moving average is $345.05. 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 Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a market capitalization of $101.17 billion, a PE ratio of 29.24, a P/E/G ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $58.30 billion. During the same period in the prior year, the firm earned $6.13 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.57%. 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.