Douglas Lane & Associates LLC Sells 152 Shares of The Cigna Group (NYSE:CI)

Douglas Lane & Associates LLC lowered its holdings in shares of The Cigna Group (NYSE:CI) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,633 shares of the health services provider’s stock after selling 152 shares during the quarter. Douglas Lane & Associates LLC’s holdings in The Cigna Group were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CI. Silicon Valley Capital Partners lifted its position in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group in the 1st quarter worth about $29,000. Raleigh Capital Management Inc. lifted its holdings in shares of 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 last quarter. Pineridge Advisors LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $37,000. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $43,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.1 %

NYSE CI traded up $3.58 during trading on Tuesday, reaching $329.29. 2,258,007 shares of the company’s stock traded hands, compared to its average volume of 1,584,539. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $93.54 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The company’s 50 day simple moving average is $335.67 and its two-hundred day simple moving average is $339.29. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.13 EPS. As a group, sell-side analysts forecast that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday. Oppenheimer raised their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Finally, Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $381.00.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of The Cigna Group 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 sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction 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 approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 547 shares of The Cigna Group 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 transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. Company insiders own 0.60% of the company’s stock.

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.