Hsbc Holdings PLC Sells 201,481 Shares of The Cigna Group (NYSE:CI)

Hsbc Holdings PLC trimmed its position in The Cigna Group (NYSE:CI) by 21.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751,771 shares of the health services provider’s stock after selling 201,481 shares during the period. Hsbc Holdings PLC’s holdings in The Cigna Group were worth $248,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CI. Van ECK Associates Corp raised its holdings in The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after buying an additional 625 shares during the last quarter. TFO Wealth Partners LLC raised its stake in shares of The Cigna Group by 98,980.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 4,949 shares during the last quarter. Hancock Whitney Corp lifted its holdings in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of The Cigna Group by 63.5% during the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock valued at $30,475,000 after buying an additional 39,530 shares during the last quarter. Finally, ORG Partners LLC bought a new stake in The Cigna Group during the second quarter worth $489,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 2.9 %

Shares of NYSE CI opened at $356.21 on Wednesday. The firm has a fifty day simple moving average of $345.60 and a two-hundred day simple moving average of $344.67. The firm has a market capitalization of $101.19 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.13 earnings per share. Equities analysts expect 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 will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on 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 completion of 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. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $392.79.

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.