The Cigna Group (NYSE:CI) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. reduced its position in The Cigna Group (NYSE:CI) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,188 shares of the health services provider’s stock after selling 253 shares during the period. Tocqueville Asset Management L.P.’s holdings in The Cigna Group were worth $1,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hanson & Doremus Investment Management lifted its stake in shares of The Cigna Group by 3.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock valued at $315,000 after purchasing an additional 29 shares in the last quarter. Capital Asset Advisory Services LLC raised its holdings in shares of The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after buying an additional 29 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of The Cigna Group by 10.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after buying an additional 32 shares during the period. First Financial Corp IN raised its holdings in shares of The Cigna Group by 17.2% during the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after buying an additional 33 shares during the period. Finally, Somerset Trust Co raised its holdings in shares of The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock valued at $802,000 after buying an additional 34 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of CI opened at $335.84 on Friday. The firm has a market cap of $95.40 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 1.02 and a beta of 0.52. The stock has a 50 day moving average of $335.33 and a 200-day moving average of $336.61. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.41 EPS. As a group, analysts forecast that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, 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 sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CI shares. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. Oppenheimer lifted their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $376.20.

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.