Douglas Lane & Associates LLC Sells 53 Shares of The Cigna Group (NYSE:CI)

Douglas Lane & Associates LLC reduced its holdings in shares of The Cigna Group (NYSE:CI) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,580 shares of the health services provider’s stock after selling 53 shares during the period. Douglas Lane & Associates LLC’s holdings in The Cigna Group were worth $547,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CI. Willner & Heller LLC grew its position in shares of The Cigna Group by 10.1% during the 3rd quarter. Willner & Heller LLC now owns 794 shares of the health services provider’s stock valued at $275,000 after acquiring an additional 73 shares during the period. CHICAGO TRUST Co NA lifted its position in The Cigna Group by 45.1% during the third quarter. CHICAGO TRUST Co NA now owns 1,837 shares of the health services provider’s stock valued at $636,000 after purchasing an additional 571 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in The Cigna Group during the third quarter valued at about $204,000. Exchange Traded Concepts LLC increased its position in The Cigna Group by 5,543.6% in the third quarter. Exchange Traded Concepts LLC now owns 5,700 shares of the health services provider’s stock worth $1,975,000 after buying an additional 5,599 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of The Cigna Group by 1.5% in the third quarter. Ritholtz Wealth Management now owns 5,969 shares of the health services provider’s stock worth $2,068,000 after buying an additional 88 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

NYSE CI opened at $350.30 on Monday. 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 Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The business has a 50 day simple moving average of $348.81 and a two-hundred day simple moving average of $344.64. The stock has a market capitalization of $99.51 billion, a PE ratio of 28.76, a P/E/G ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $6.13 earnings per share. On average, research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CI shares. Barclays boosted 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. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $392.79.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.