The Cigna Group (NYSE:CI) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of The Cigna Group (NYSE:CI) by 7.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,495 shares of the health services provider’s stock after selling 2,990 shares during the period. State of Alaska Department of Revenue’s holdings in The Cigna Group were worth $12,642,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CI. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group during the second quarter worth $33,000. Ulland Investment Advisors LLC increased its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group in the second quarter valued at $66,000. Finally, Private Ocean LLC lifted its holdings in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was 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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.4 %

Shares of CI stock opened at $316.85 on Monday. The company has a market capitalization of $90.01 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 firm has a 50-day moving average price of $348.97 and a 200 day moving average price of $342.73.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.13 EPS. Research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analysts Set New Price Targets

CI has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Barclays upped 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. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average 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.