Keybank National Association OH lowered its position in shares of Cigna Group (NYSE:CI – Free Report) by 1.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 125,478 shares of the health services provider’s stock after selling 2,457 shares during the quarter. Keybank National Association OH’s holdings in Cigna Group were worth $34,109,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its holdings in Cigna Group by 3.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,801 shares of the health services provider’s stock worth $490,000 after acquiring an additional 65 shares during the last quarter. Alexander Randolph Advisory Inc. increased its position in shares of Cigna Group by 4.4% in the third quarter. Alexander Randolph Advisory Inc. now owns 8,557 shares of the health services provider’s stock valued at $2,326,000 after acquiring an additional 363 shares during the period. 71 West Capital Partners raised its stake in shares of Cigna Group by 6.2% during the third quarter. 71 West Capital Partners now owns 2,103 shares of the health services provider’s stock valued at $572,000 after acquiring an additional 123 shares during the last quarter. AlphaCore Capital LLC raised its stake in shares of Cigna Group by 25.9% during the third quarter. AlphaCore Capital LLC now owns 7,916 shares of the health services provider’s stock valued at $2,152,000 after acquiring an additional 1,626 shares during the last quarter. Finally, Running Oak Capital LLC boosted its holdings in shares of Cigna Group by 4.1% during the third quarter. Running Oak Capital LLC now owns 38,361 shares of the health services provider’s stock worth $10,428,000 after purchasing an additional 1,514 shares during the period. Institutional investors own 86.99% of the company’s stock.
Insiders Place Their Bets
In other news, insider Everett Neville sold 617 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the transaction, the insider directly owned 5,053 shares in the company, valued at $1,435,304.65. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,677 shares of Cigna Group stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the transaction, the insider directly owned 25,880 shares of the company’s stock, valued at approximately $7,236,306.80. This represents a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.
Cigna Group News Roundup
These are some of the CI news items that stood out recently:
- Positive Sentiment: A technical analysis noted that shares moved above the 20-day moving average, which the report interprets as a short-term bullish signal. This is a trading indicator rather than a change in business fundamentals. Article: Cigna Recently Broke Out Above the 20-Day Moving Average
- Positive Sentiment: Another market commentary points to low earnings multiples, buybacks, improving earnings and cash flow as reasons investors may be undervaluing Cigna. Article: 3 Stocks Wall Street Likes More Than the Market Does
- Neutral Sentiment: Cigna’s foundation announced $3.45 million in grants to support housing stability and mental health services for veterans and their families. The initiative may support the company’s reputation but is not presented as a material financial development. Article: Cigna Foundation Awards Grants for Veterans
Wall Street Analyst Weigh In
CI has been the topic of several recent analyst reports. Guggenheim cut their target price on Cigna Group from $361.00 to $347.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Royal Bank Of Canada restated an “outperform” rating and set a $337.00 price target on shares of Cigna Group in a report on Thursday, October 1st. Robert W. Baird set a $362.00 price target on Cigna Group in a research report on Friday, July 31st. Sanford C. Bernstein increased their price objective on Cigna Group from $387.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Cigna Group in a report on Friday, October 23rd. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $340.80.
Check Out Our Latest Report on CI
Cigna Group Price Performance
Shares of NYSE CI opened at $301.25 on Thursday. The company has a 50 day simple moving average of $287.03 and a two-hundred day simple moving average of $282.49. Cigna Group has a fifty-two week low of $257.85 and a fifty-two week high of $318.05. The company has a market capitalization of $79.38 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.13 and a beta of 0.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74.
Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The health services provider reported $7.98 EPS for the quarter, topping analysts’ consensus estimates of $7.52 by $0.46. The firm had revenue of $73.79 billion for the quarter, compared to analysts’ expectations of $72.64 billion. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.83 EPS. Analysts expect that Cigna Group will post 30.72 EPS for the current fiscal year.
Cigna Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a dividend of $1.56 per share. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a yield of 2.1%. Cigna Group’s payout ratio is presently 27.54%.
About Cigna Group
The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.
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