Toroso Investments LLC Reduces Stock Position in The Cigna Group (NYSE:CI)

Toroso Investments LLC cut its stake in The Cigna Group (NYSE:CI) by 14.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,378 shares of the health services provider’s stock after selling 1,973 shares during the period. Toroso Investments LLC’s holdings in The Cigna Group were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CI. Moneta Group Investment Advisors LLC grew its position in The Cigna Group by 154,255.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after acquiring an additional 11,947,096 shares during the period. Norges Bank purchased a new position in The Cigna Group in the fourth quarter worth approximately $963,542,000. Envestnet Asset Management Inc. boosted its position in shares of The Cigna Group by 853.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,928,419 shares of the health services provider’s stock worth $50,464,000 after buying an additional 1,726,261 shares during the period. Maj Invest Holding A S purchased a new position in shares of The Cigna Group during the first quarter worth $215,213,000. Finally, Ameriprise Financial Inc. boosted its position in shares of The Cigna Group by 22.7% during the first quarter. Ameriprise Financial Inc. now owns 4,346,293 shares of the health services provider’s stock worth $1,110,597,000 after buying an additional 804,805 shares during the period. 85.32% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.7 %

The Cigna Group stock opened at $283.31 on Friday. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $340.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $83.85 billion, a PE ratio of 12.90, a P/E/G ratio of 1.02 and a beta of 0.66. The stock’s fifty day moving average is $284.62 and its two-hundred day moving average is $271.49.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.98 by $0.15. The Cigna Group had a return on equity of 12.32% and a net margin of 3.57%. The company had revenue of $48.59 billion for the quarter, compared to analysts’ expectations of $47.24 billion. During the same period last year, the firm earned $6.22 earnings per share. The Cigna Group’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 24.8 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Wednesday, September 6th will be issued a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, September 5th. The Cigna Group’s payout ratio is 22.40%.

Insiders Place Their Bets

In other The Cigna Group news, CFO Brian C. Evanko sold 2,307 shares of the firm’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 transaction, the chief financial officer now owns 31,332 shares of the company’s stock, valued at $9,399,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other The Cigna Group news, CFO Brian C. Evanko sold 2,307 shares of the firm’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 transaction, the chief financial officer now owns 31,332 shares of the company’s stock, valued at $9,399,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cynthia Ryan sold 3,768 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total value of $1,063,404.96. Following the transaction, the executive vice president now directly owns 5,503 shares in the company, valued at approximately $1,553,056.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,767 shares of company stock valued at $11,498,468. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CI. StockNews.com began coverage on The Cigna Group in a research report on Thursday, August 17th. They set a “buy” rating for the company. Wells Fargo & Company raised their price target on The Cigna Group from $284.00 to $300.00 in a research report on Wednesday, August 9th. Raymond James raised their price target on The Cigna Group from $310.00 to $330.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 7th. JPMorgan Chase & Co. lowered their price target on The Cigna Group from $356.00 to $341.00 in a research report on Friday, July 7th. Finally, Bank of America increased their price objective on The Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.11.

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.