E&G Advisors LP Sells 100 Shares of The Cigna Group (NYSE:CI)

E&G Advisors LP lessened its holdings in shares of The Cigna Group (NYSE:CI) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,873 shares of the health services provider’s stock after selling 100 shares during the quarter. E&G Advisors LP’s holdings in The Cigna Group were worth $680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its position in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. VisionPoint Advisory Group LLC raised its position in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Pacifica Partners Inc. raised its position 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 valued at $43,000 after purchasing an additional 60 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Piper Sandler assumed coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $376.20.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $5,514,189.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. Company insiders own 0.70% of the company’s stock.

The Cigna Group Trading Down 0.3 %

NYSE:CI traded down $0.84 on Wednesday, hitting $325.07. 900,737 shares of the stock were exchanged, compared to its average volume of 1,610,890. The stock has a market capitalization of $92.34 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.01 and a beta of 0.52. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day moving average price is $340.15 and its 200 day moving average price is $333.85.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.41 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders 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 annualized dividend and a yield of 1.72%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

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.