Altrius Capital Management Inc Sells 168 Shares of The Cigna Group (NYSE:CI)

Altrius Capital Management Inc reduced its position in The Cigna Group (NYSE:CI) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 13,560 shares of the health services provider’s stock after selling 168 shares during the quarter. Altrius Capital Management Inc’s holdings in The Cigna Group were worth $4,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new position in The Cigna Group in the first quarter worth $29,000. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group during the second quarter valued at $33,000. Ulland Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 2,500.0% during 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 during the period. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the third quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the second quarter valued at $66,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $4.98 during midday trading on Friday, hitting $318.90. 281,642 shares of the stock traded hands, compared to its average volume of 1,539,370. The firm has a 50-day moving average of $339.52 and a two-hundred day moving average of $339.91. The firm has a market capitalization of $88.70 billion, a P/E ratio of 30.36, a PEG ratio of 1.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.76%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. 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 report on Tuesday, September 17th. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $394.64.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

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.