Joel Isaacson & Co. LLC Lowers Stock Position in The Cigna Group (NYSE:CI)

Joel Isaacson & Co. LLC lessened its holdings in The Cigna Group (NYSE:CI) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,990 shares of the health services provider’s stock after selling 419 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in The Cigna Group were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CI. Vanguard Group Inc. boosted its holdings in The Cigna Group by 8.1% in the 1st 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 lifted its position in shares of The Cigna Group by 6.4% during 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 acquiring an additional 867,180 shares during the period. AQR Capital Management LLC lifted its position in shares of The Cigna Group by 63.4% during the 2nd 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 period. Swedbank AB acquired a new stake in shares of The Cigna Group during the 1st quarter valued at approximately $161,300,000. Finally, Ameriprise Financial Inc. lifted its position in shares of The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.5 %

Shares of NYSE CI opened at $316.78 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a fifty day moving average of $349.48 and a 200-day moving average of $343.22. The stock has a market capitalization of $89.99 billion, a PE ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) 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 analysts’ expectations of $58.30 billion. During the same period in the previous year, the company earned $6.13 EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, analysts anticipate that The Cigna Group will post 28.48 EPS 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. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Barclays lifted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $392.79.

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.