Vestmark Advisory Solutions Inc. trimmed its stake in shares of The Cigna Group (NYSE:CI – Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,318 shares of the health services provider’s stock after selling 89 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in The Cigna Group were worth $337,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Samalin Investment Counsel LLC acquired a new stake in shares of The Cigna Group during the 1st quarter valued at approximately $223,000. Goldstein Advisors LLC acquired a new stake in shares of The Cigna Group during the 1st quarter valued at approximately $218,000. Glenview Trust co increased its stake in shares of The Cigna Group by 3.6% during the 1st quarter. Glenview Trust co now owns 15,234 shares of the health services provider’s stock worth $3,893,000 after purchasing an additional 529 shares in the last quarter. GAM Holding AG increased its stake in shares of The Cigna Group by 86.0% during the 1st quarter. GAM Holding AG now owns 9,164 shares of the health services provider’s stock worth $2,342,000 after purchasing an additional 4,236 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of The Cigna Group by 4.7% during the 1st quarter. Clearstead Advisors LLC now owns 1,255 shares of the health services provider’s stock worth $321,000 after purchasing an additional 56 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at The Cigna Group
In related news, CFO Brian C. Evanko sold 2,307 shares of The Cigna Group stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $300.00, for a total transaction of $692,100.00. Following the transaction, the chief financial officer now owns 31,332 shares in the company, valued at approximately $9,399,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Cigna Group news, EVP Everett Neville sold 466 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $277.61, for a total value of $129,366.26. Following the transaction, the executive vice president now owns 4,937 shares in the company, valued at approximately $1,370,560.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian C. Evanko sold 2,307 shares of the business’s stock in a transaction on 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 owns 31,332 shares in the company, valued at approximately $9,399,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,180 shares of company stock worth $8,270,294. 0.60% of the stock is currently owned by corporate insiders.
The Cigna Group Stock Down 6.4 %
The Cigna Group (NYSE:CI – Get Free Report) last posted its earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.15. The business had revenue of $48.59 billion for the quarter, compared to analyst estimates of $47.24 billion. The Cigna Group had a net margin of 3.57% and a return on equity of 12.32%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.22 EPS. On average, analysts anticipate that The Cigna Group will post 24.8 EPS for the current year.
The Cigna Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be issued a dividend of $1.23 per share. The ex-dividend date is Tuesday, September 5th. This represents a $4.92 annualized dividend and a dividend yield of 1.82%. The Cigna Group’s payout ratio is 22.40%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on CI. StockNews.com began coverage on shares of The Cigna Group in a research note on Thursday. They set a “buy” rating for the company. Truist Financial dropped their price objective on shares of The Cigna Group from $375.00 to $365.00 in a research note on Tuesday, June 20th. Wells Fargo & Company raised their price objective on shares of The Cigna Group from $284.00 to $300.00 in a research note on Wednesday, August 9th. Edward Jones cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of The Cigna Group from $356.00 to $341.00 in a research note on Friday, July 7th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $337.79.
Read Our Latest Stock Report on CI
About The Cigna Group
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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