The Cigna Group (NYSE:CI) Shares Sold by Norway Savings Bank

Norway Savings Bank decreased its position in The Cigna Group (NYSE:CI) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the health services provider’s stock after selling 100 shares during the period. Norway Savings Bank’s holdings in The Cigna Group were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners raised its stake in shares of 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 worth $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of The Cigna Group during the first quarter worth $59,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Jefferies Financial Group raised their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Price Performance

CI stock traded up $2.48 during trading on Tuesday, hitting $353.93. The stock had a trading volume of 508,053 shares, compared to its average volume of 1,472,656. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company’s 50-day moving average price is $349.32 and its two-hundred day moving average price is $344.56. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $100.54 billion, a P/E ratio of 28.85, a PEG ratio of 1.05 and a beta of 0.50.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $6.13 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

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.