OVERSEA CHINESE BANKING Corp Ltd Sells 242 Shares of The Cigna Group (NYSE:CI)

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of The Cigna Group (NYSE:CI) by 25.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 721 shares of the health services provider’s stock after selling 242 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in The Cigna Group were worth $250,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after purchasing an additional 150,765 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 2.4 %

The Cigna Group stock opened at $331.75 on Thursday. The company has a 50 day moving average of $340.84 and a 200-day moving average of $340.08. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a market capitalization of $92.28 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. 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 28.5 EPS for the current fiscal 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 paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.69%. The Cigna Group’s payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $394.64.

Insiders Place Their Bets

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 stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.