Douglas Lane & Associates LLC Sells 53 Shares of The Cigna Group (NYSE:CI)

Douglas Lane & Associates LLC decreased its position in The Cigna Group (NYSE:CI) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,580 shares of the health services provider’s stock after selling 53 shares during the quarter. Douglas Lane & Associates LLC’s holdings in The Cigna Group were worth $547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Silicon Valley Capital Partners raised its position in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. lifted its stake in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the period. TruNorth Capital Management LLC purchased a new stake in The Cigna Group in the second quarter worth $33,000. Finally, Rise Advisors LLC bought a new stake in The Cigna Group in the first quarter valued at $59,000. 86.99% of the stock is owned by institutional investors.

Insider Activity

In other 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 shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.1 %

NYSE:CI opened at $350.30 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $99.51 billion, a P/E ratio of 28.76, a P/E/G ratio of 1.05 and a beta of 0.50. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm has a 50-day simple moving average of $348.81 and a two-hundred day simple moving average of $344.64.

The Cigna Group (NYSE:CI) last announced its quarterly 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the firm earned $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. Analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays lifted 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. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price 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.