Advisors Asset Management Inc. Sells 1,928 Shares of The Cigna Group (NYSE:CI)

Advisors Asset Management Inc. reduced its position in The Cigna Group (NYSE:CI) by 19.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,195 shares of the health services provider’s stock after selling 1,928 shares during the period. Advisors Asset Management Inc.’s holdings in The Cigna Group were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CI. Freestone Capital Holdings LLC lifted its stake in shares of The Cigna Group by 0.7% in the 1st quarter. Freestone Capital Holdings LLC now owns 31,849 shares of the health services provider’s stock worth $11,567,000 after purchasing an additional 209 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of The Cigna Group during the 1st quarter worth $454,000. Delap Wealth Advisory LLC bought a new stake in shares of The Cigna Group during the 1st quarter valued at $405,000. Vident Advisory LLC increased its stake in shares of The Cigna Group by 24.2% in the 1st quarter. Vident Advisory LLC now owns 93,571 shares of the health services provider’s stock worth $33,984,000 after purchasing an additional 18,222 shares in the last quarter. Finally, Shell Asset Management Co. raised its holdings in The Cigna Group by 6.3% in the 1st quarter. Shell Asset Management Co. now owns 17,886 shares of the health services provider’s stock worth $6,496,000 after purchasing an additional 1,053 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CI. Piper Sandler initiated coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Oppenheimer raised their price objective 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. 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 stock currently has an average rating of “Buy” and a consensus price target of $376.20.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $2.49 during trading on Friday, reaching $343.64. 1,135,664 shares of the stock traded hands, compared to its average volume of 1,195,868. 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 current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day simple moving average of $334.97 and a two-hundred day simple moving average of $337.48. The company has a market capitalization of $97.62 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 1.04 and a beta of 0.52.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The business 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 firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.41 EPS. Sell-side analysts expect that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Activity at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,988 shares of company stock valued at $7,975,726. Insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.