Oppenheimer & Co. Inc. Reduces Position in The Cigna Group (NYSE:CI)

Oppenheimer & Co. Inc. reduced its holdings in The Cigna Group (NYSE:CI) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,463 shares of the health services provider’s stock after selling 1,460 shares during the period. Oppenheimer & Co. Inc.’s holdings in The Cigna Group were worth $4,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Haverford Trust Co lifted its stake in The Cigna Group by 6.0% in the 3rd quarter. Haverford Trust Co now owns 2,408 shares of the health services provider’s stock worth $834,000 after purchasing an additional 136 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in The Cigna Group by 2.5% during the third quarter. Aptus Capital Advisors LLC now owns 2,613 shares of the health services provider’s stock worth $905,000 after buying an additional 64 shares in the last quarter. Aigen Investment Management LP boosted its stake in The Cigna Group by 147.1% during the third quarter. Aigen Investment Management LP now owns 1,883 shares of the health services provider’s stock worth $652,000 after buying an additional 1,121 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in The Cigna Group by 7.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,125 shares of the health services provider’s stock worth $1,082,000 after buying an additional 218 shares during the last quarter. Finally, Savvy Advisors Inc. purchased a new stake in The Cigna Group in the 3rd quarter valued at $336,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI opened at $323.88 on Friday. The stock has a 50-day simple moving average of $340.14 and a 200-day simple moving average of $340.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock has a market capitalization of $90.09 billion, a PE ratio of 30.55, a PEG ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the business posted $6.77 EPS. The firm’s revenue was up 29.8% on a year-over-year basis. On average, analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The shares were 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 represents a 13.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CI. Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective 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. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada decreased their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $394.64.

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.