The Cigna Group (NYSE:CI) Shares Sold by Oxbow Advisors LLC

Oxbow Advisors LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,333 shares of the health services provider’s stock after selling 76 shares during the period. Oxbow Advisors LLC’s holdings in The Cigna Group were worth $5,658,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after purchasing an additional 625 shares in the last quarter. Marks Group Wealth Management Inc increased its stake in shares of The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after buying an additional 23,376 shares during the last quarter. Hancock Whitney Corp increased its stake in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after buying an additional 1,629 shares during the last quarter. ORG Partners LLC bought a new stake in shares of The Cigna Group in the second quarter worth $489,000. Finally, Tidal Investments LLC increased its stake in shares of The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after buying an additional 4,043 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

CI stock traded up $0.28 during trading on Friday, hitting $319.77. The company had a trading volume of 1,315,168 shares, compared to its average volume of 1,535,138. The firm has a market capitalization of $88.94 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 0.95 and a beta of 0.51. The business has a 50 day moving average of $341.73 and a 200 day moving average of $340.43. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

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 for the quarter, topping the consensus estimate 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 net margin of 1.31% and a return on equity of 18.42%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 earnings per share. As a group, research analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CI shares. Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday. Finally, Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $394.64.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% 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.