Bellevue Group AG Sells 8,825 Shares of The Cigna Group (NYSE:CI)

Bellevue Group AG cut its stake in The Cigna Group (NYSE:CI) by 10.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,645 shares of the health services provider’s stock after selling 8,825 shares during the period. Bellevue Group AG’s holdings in The Cigna Group were worth $28,926,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its holdings in The Cigna Group by 100.0% in the first 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 during the last quarter. Cedar Wealth Management LLC bought a new stake in The Cigna Group in the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. lifted its stake in The Cigna Group by 69.5% in the fourth 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. Pineridge Advisors LLC acquired a new position in The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Byrne Asset Management LLC acquired a new position in The Cigna Group in the first quarter valued at approximately $51,000. 86.99% of the stock is currently owned by institutional investors.

Insider Transactions at The Cigna Group

In other news, 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 transaction of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

Shares of CI stock traded up $2.49 on Friday, hitting $343.64. 1,135,664 shares of the stock were exchanged, compared to its average volume of 1,195,868. 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 firm has a market capitalization of $97.62 billion, a PE ratio of 28.21, a P/E/G ratio of 1.05 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The firm’s 50 day moving average is $334.97 and its two-hundred day moving average is $337.86.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share 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 the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.41 EPS. Sell-side analysts expect that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.63%. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Robert W. Baird assumed coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. Finally, Piper Sandler assumed coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $376.20.

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.