ASB Consultores LLC Reduces Stock Position in The Cigna Group (NYSE:CI)

ASB Consultores LLC decreased its position in The Cigna Group (NYSE:CI) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,176 shares of the health services provider’s stock after selling 268 shares during the quarter. ASB Consultores LLC’s holdings in The Cigna Group were worth $407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Norden Group LLC lifted its position in The Cigna Group by 22.3% during the first quarter. Norden Group LLC now owns 2,355 shares of the health services provider’s stock valued at $855,000 after buying an additional 429 shares during the period. Janney Montgomery Scott LLC raised its stake in The Cigna Group by 3.6% during the first quarter. Janney Montgomery Scott LLC now owns 30,151 shares of the health services provider’s stock valued at $10,951,000 after buying an additional 1,037 shares during the last quarter. Choreo LLC boosted its holdings in The Cigna Group by 54.6% in the first quarter. Choreo LLC now owns 1,623 shares of the health services provider’s stock worth $590,000 after acquiring an additional 573 shares in the last quarter. Financial Counselors Inc. grew its stake in shares of The Cigna Group by 2.2% in the first quarter. Financial Counselors Inc. now owns 1,748 shares of the health services provider’s stock worth $635,000 after acquiring an additional 38 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of The Cigna Group during the first quarter valued at $268,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday. Barclays upped their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $394.00.

The Cigna Group Stock Down 1.3 %

CI stock opened at $312.32 on Tuesday. The firm’s fifty day moving average is $344.94 and its 200 day moving average is $341.23. 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 firm has a market cap of $86.87 billion, a PE ratio of 29.46, a P/E/G ratio of 0.96 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.77 earnings per share. On average, research analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.79%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.