Main Street Financial Solutions LLC Decreases Position in The Cigna Group (NYSE:CI)

Main Street Financial Solutions LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 16.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 730 shares of the health services provider’s stock after selling 143 shares during the period. Main Street Financial Solutions LLC’s holdings in The Cigna Group were worth $253,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group during the first quarter valued at about $29,000. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC raised its holdings 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 buying an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the third quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group during the second quarter valued at $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In other 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 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 2.5 %

Shares of CI stock opened at $323.88 on Friday. The stock has a 50 day simple moving average of $340.14 and a 200-day simple moving average of $340.02. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a market cap of $90.09 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.02 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.73%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $394.64.

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.