Cambridge Investment Research Advisors Inc. Sells 2,064 Shares of The Cigna Group (NYSE:CI)

Cambridge Investment Research Advisors Inc. decreased its stake in shares of The Cigna Group (NYSE:CI) by 7.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,073 shares of the health services provider’s stock after selling 2,064 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in The Cigna Group were worth $8,619,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after acquiring an additional 97,277 shares during the last quarter. Norges Bank purchased a new stake in shares of The Cigna Group in the 4th quarter valued at $1,006,348,000. Finally, Parnassus Investments LLC grew its holdings in shares of The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CI shares. Oppenheimer upped their price target 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. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $384.86.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value 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 $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock valued at $3,095,820 over the last quarter. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 0.5 %

CI stock traded up $1.90 during mid-day trading on Wednesday, reaching $355.79. The company had a trading volume of 282,625 shares, compared to its average volume of 1,532,416. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a fifty day simple moving average of $336.49 and a 200 day simple moving average of $342.32. The company has a market capitalization of $101.07 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. 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 posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the company earned $6.13 earnings per share. The company’s revenue was up 24.6% compared to the same quarter last year. Analysts forecast that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.