The Cigna Group (NYSE:CI) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC trimmed its holdings in The Cigna Group (NYSE:CI) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,602 shares of the health services provider’s stock after selling 34 shares during the period. Lake Street Advisors Group LLC’s holdings in The Cigna Group were worth $1,248,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group in the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group during the 2nd quarter worth $33,000. Ulland Investment Advisors LLC increased its position 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 worth $36,000 after buying an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group in the second quarter worth $66,000. Finally, Private Ocean LLC increased its position in The Cigna Group by 29.9% in the second 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 period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $316.78 on Friday. The company has a market capitalization of $89.99 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. 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 Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The business has a 50-day simple moving average of $349.48 and a two-hundred day simple moving average of $343.22.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the firm posted $6.13 EPS. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company 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. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays raised their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $392.79.

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.