The Cigna Group (NYSE:CI) Shares Sold by Altrius Capital Management Inc

Altrius Capital Management Inc reduced its position in shares of The Cigna Group (NYSE:CI) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,560 shares of the health services provider’s stock after selling 168 shares during the period. Altrius Capital Management Inc’s holdings in The Cigna Group were worth $4,698,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 1st quarter worth about $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its position in shares of 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 acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group in the second quarter worth approximately $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

Shares of CI traded down $4.98 during midday trading on Friday, hitting $318.90. 281,642 shares of the stock traded hands, compared to its average volume of 1,539,370. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The firm has a market capitalization of $88.70 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. 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 business’s 50 day moving average price is $339.52 and its two-hundred day moving average price is $339.91.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced 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. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group 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.