The Cigna Group (NYSE:CI) Holdings Lowered by Narus Financial Partners LLC

Narus Financial Partners LLC lowered its stake in The Cigna Group (NYSE:CI) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,382 shares of the health services provider’s stock after selling 93 shares during the quarter. Narus Financial Partners LLC’s holdings in The Cigna Group were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. lifted its position 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 buying an additional 41 shares in the last quarter. VisionPoint Advisory Group LLC boosted its stake in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at $37,000. Finally, Pacifica Partners Inc. increased its stake in shares of The Cigna Group by 73.2% in the fourth 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 last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock traded down $1.11 on Tuesday, hitting $325.16. The company’s stock had a trading volume of 381,006 shares, compared to its average volume of 1,610,939. The firm has a market cap of $92.37 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The company has a fifty day moving average price of $341.23 and a 200-day moving average price of $333.41. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. 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 (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $5.41 EPS. On average, equities analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on 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 sale, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock valued at $7,975,726 over the last ninety days. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, June 12th. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Morgan Stanley reissued an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $376.20.

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.