Lake Street Advisors Group LLC Sells 34 Shares of The Cigna Group (NYSE:CI)

Lake Street Advisors Group LLC reduced its position in The Cigna Group (NYSE:CI) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,602 shares of the health services provider’s stock after selling 34 shares during the quarter. Lake Street Advisors Group LLC’s holdings in The Cigna Group were worth $1,248,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ballentine Partners LLC raised its holdings in shares of The Cigna Group by 9.8% in the third quarter. Ballentine Partners LLC now owns 7,726 shares of the health services provider’s stock worth $2,677,000 after buying an additional 691 shares during the last quarter. Busey Bank grew its position in The Cigna Group by 3.1% during the third quarter. Busey Bank now owns 52,708 shares of the health services provider’s stock valued at $18,260,000 after buying an additional 1,607 shares during the period. Mainstay Capital Management LLC ADV acquired a new stake in The Cigna Group during the third quarter valued at $206,000. Mount Yale Investment Advisors LLC grew its position in The Cigna Group by 2.5% during the third quarter. Mount Yale Investment Advisors LLC now owns 1,733 shares of the health services provider’s stock valued at $600,000 after buying an additional 42 shares during the period. Finally, Harvey Investment Co. LLC acquired a new stake in shares of The Cigna Group in the third quarter valued at about $206,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

The Cigna Group stock opened at $316.78 on Friday. 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 Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The firm’s 50-day moving average is $349.48 and its two-hundred day moving average is $343.22. The stock has a market capitalization of $89.99 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its 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 firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.13 earnings per share. Equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group 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 value of $922,151.88. Following the completion of the sale, the director now directly 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 can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $392.79.

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.