Prime Capital Investment Advisors LLC lessened its position in shares of The Cigna Group (NYSE:CI – Free Report) by 47.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,111 shares of the health services provider’s stock after selling 1,000 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in The Cigna Group were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its stake in The Cigna Group by 154,255.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after buying an additional 11,947,096 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in The Cigna Group by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock valued at $862,423,000 after buying an additional 268,793 shares in the last quarter. Norges Bank acquired a new stake in The Cigna Group in the 4th quarter valued at $963,542,000. Nordea Investment Management AB boosted its stake in The Cigna Group by 18.9% in the 1st quarter. Nordea Investment Management AB now owns 2,490,969 shares of the health services provider’s stock valued at $635,446,000 after buying an additional 396,176 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in The Cigna Group by 6.2% in the 4th quarter. Putnam Investments LLC now owns 2,122,253 shares of the health services provider’s stock valued at $703,187,000 after buying an additional 124,453 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.
The Cigna Group Trading Up 1.8 %
NYSE CI opened at $291.84 on Tuesday. The stock has a 50-day simple moving average of $276.09 and a 200 day simple moving average of $274.93. The company has a market capitalization of $86.38 billion, a PE ratio of 13.29, a P/E/G ratio of 1.04 and a beta of 0.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $340.11.
The Cigna Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Wednesday, September 6th will be issued a $1.23 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $4.92 annualized dividend and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio (DPR) is currently 22.40%.
Analyst Upgrades and Downgrades
Several analysts recently commented on CI shares. Sanford C. Bernstein decreased their price target on The Cigna Group from $367.00 to $293.00 in a research note on Wednesday, April 26th. Royal Bank of Canada decreased their price target on The Cigna Group from $333.00 to $287.00 in a research note on Monday, May 8th. Truist Financial decreased their price target on The Cigna Group from $375.00 to $365.00 in a research note on Tuesday, June 20th. Bank of America boosted their price objective on The Cigna Group from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Raymond James boosted their price objective on The Cigna Group from $310.00 to $330.00 and gave the stock a “strong-buy” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $335.38.
View Our Latest Report on The Cigna Group
Insiders Place Their Bets
In other The Cigna Group news, CFO Brian C. Evanko sold 2,307 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $300.00, for a total value of $692,100.00. Following the completion of the sale, the chief financial officer now directly owns 31,332 shares in the company, valued at $9,399,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brian C. Evanko sold 2,307 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $300.00, for a total transaction of $692,100.00. Following the completion of the transaction, the chief financial officer now directly owns 31,332 shares of the company’s stock, valued at $9,399,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Everett Neville sold 13,157 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $295.21, for a total value of $3,884,077.97. Following the transaction, the executive vice president now directly owns 4,937 shares of the company’s stock, valued at $1,457,451.77. The disclosure for this sale can be found here. Insiders sold 15,930 shares of company stock worth $4,705,544 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.
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.
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