The Cigna Group (NYSE:CI) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its holdings in The Cigna Group (NYSE:CI) by 0.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,731 shares of the health services provider’s stock after selling 29 shares during the quarter. Griffin Asset Management Inc.’s holdings in The Cigna Group were worth $2,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. AQR Capital Management LLC increased its stake in The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares during the period. Swedbank AB purchased a new stake in The Cigna Group during the first quarter worth about $161,300,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after purchasing an additional 405,694 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CI shares. Barclays upped their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group 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 transaction 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

Shares of CI stock opened at $348.91 on Wednesday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $99.12 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.05 and a beta of 0.50. The stock’s 50-day moving average is $349.71 and its two-hundred day moving average is $344.46.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 business 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 company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.13 earnings per share. Analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is currently 45.98%.

About The Cigna Group

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.