The Cigna Group (NYSE:CI) Shares Sold by Kiltearn Partners LLP

Kiltearn Partners LLP reduced its position in shares of The Cigna Group (NYSE:CI) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,000 shares of the health services provider’s stock after selling 28,300 shares during the period. The Cigna Group comprises approximately 4.9% of Kiltearn Partners LLP’s holdings, making the stock its 6th largest holding. Kiltearn Partners LLP’s holdings in The Cigna Group were worth $40,660,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CI. Gryphon Financial Partners LLC acquired a new stake in The Cigna Group in the fourth quarter worth $230,000. Clearbridge Investments LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth about $490,000. Quest Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth about $53,000. Congress Wealth Management LLC DE boosted its stake in The Cigna Group by 14.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 6,067 shares of the health services provider’s stock valued at $1,817,000 after purchasing an additional 761 shares during the period. Finally, Cape Investment Advisory Inc. grew its position in The Cigna Group by 24.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 206 shares of the health services provider’s stock worth $62,000 after purchasing an additional 40 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Down 0.3 %

NYSE CI opened at $354.92 on Tuesday. The firm’s 50 day moving average price is $347.49 and its two-hundred day moving average price is $345.17. The stock has a market cap of $100.82 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.09 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month 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 Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the previous year, the firm earned $6.13 earnings per share. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. Equities 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. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CI. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Monday, September 16th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays upped their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $392.79.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the 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 sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.