Integrated Advisors Network LLC Sells 994 Shares of The Cigna Group (NYSE:CI)

Integrated Advisors Network LLC lessened its holdings in The Cigna Group (NYSE:CI) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,509 shares of the health services provider’s stock after selling 994 shares during the quarter. Integrated Advisors Network LLC’s holdings in The Cigna Group were worth $3,129,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CI. Norges Bank acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $724,517,000. GAMMA Investing LLC increased its position in The Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock valued at $583,852,000 after purchasing an additional 1,771,613 shares during the period. Raymond James Financial Inc. acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $313,911,000. Finally, GQG Partners LLC increased its position in The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CI shares. Piper Sandler increased their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Cantor Fitzgerald increased their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Cowen reissued a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Barclays reaffirmed an “overweight” rating and set a $385.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Finally, Robert W. Baird reduced their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $380.39.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $309.99 on Thursday. The company has a fifty day simple moving average of $322.23 and a 200 day simple moving average of $308.82. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market cap of $82.81 billion, a P/E ratio of 25.33, a PEG ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the firm posted $6.47 EPS. The Cigna Group’s revenue was up 14.4% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

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.