The Cigna Group (NYSE:CI) Holdings Cut by Romano Brothers AND Company

Romano Brothers AND Company lowered its holdings in shares of The Cigna Group (NYSE:CI) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,410 shares of the health services provider’s stock after selling 73 shares during the quarter. Romano Brothers AND Company’s holdings in The Cigna Group were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in The Cigna Group in the 4th quarter worth $29,000. VisionPoint Advisory Group LLC raised its holdings in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. Raleigh Capital Management Inc. raised its holdings in The Cigna Group by 69.5% in the 4th 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. Pineridge Advisors LLC bought a new position in The Cigna Group in the 4th quarter worth $37,000. Finally, Pacifica Partners Inc. raised its holdings in The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 1.1 %

NYSE CI traded down $3.58 during trading on Friday, reaching $330.57. 2,645,258 shares of the stock traded hands, compared to its average volume of 1,508,288. The firm has a market cap of $93.91 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The stock’s 50-day moving average price is $341.23 and its 200 day moving average price is $333.15. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the prior year, the company earned $5.41 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on CI. Barclays began coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday. They issued an “overweight” rating and a $400.00 price target on the stock. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Oppenheimer lifted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $376.20.

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.