The Cigna Group (NYSE:CI) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lessened its stake in shares of The Cigna Group (NYSE:CI) by 21.8% during the third quarter, HoldingsChannel reports. The firm owned 1,291 shares of the health services provider’s stock after selling 360 shares during the period. Gladstone Institutional Advisory LLC’s holdings in The Cigna Group were worth $447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group during the 1st quarter valued at about $29,000. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC grew its position in 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 valued at $36,000 after acquiring an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group during the second quarter valued at approximately $66,000. Finally, Private Ocean LLC lifted its position in shares of The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity 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 that occurred on Monday, August 19th. The stock was 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 in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $316.49 on Monday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.71. The firm has a market capitalization of $88.47 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51. The business has a 50 day simple moving average of $345.77 and a 200 day simple moving average of $341.48.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $6.77 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays boosted their target price 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. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted their price objective 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 issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $392.29.

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.