The Cigna Group (NYSE:CI) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. reduced its stake in The Cigna Group (NYSE:CI) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 535 shares of the health services provider’s stock after selling 38 shares during the period. Harbour Investments Inc.’s holdings in The Cigna Group were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CI. Choreo LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth approximately $314,000. Van ECK Associates Corp lifted its stake in The Cigna Group by 0.8% during the fourth quarter. Van ECK Associates Corp now owns 14,376 shares of the health services provider’s stock valued at $4,305,000 after purchasing an additional 108 shares during the last quarter. Savant Capital LLC lifted its stake in The Cigna Group by 11.2% during the fourth quarter. Savant Capital LLC now owns 6,243 shares of the health services provider’s stock valued at $1,870,000 after purchasing an additional 629 shares during the last quarter. Summit Financial LLC acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $263,000. Finally, Fisher Asset Management LLC lifted its stake in The Cigna Group by 17.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,571 shares of the health services provider’s stock valued at $471,000 after purchasing an additional 235 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.2 %

The Cigna Group stock opened at $361.75 on Friday. The firm has a market cap of $102.76 billion, a PE ratio of 29.71, a P/E/G ratio of 1.02 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $337.80 and its two-hundred day moving average price is $342.69. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.13 EPS. On average, research analysts predict that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.55%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analysts Set New Price Targets

Several analysts recently commented on CI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Monday, August 19th. Barclays increased their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird started coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $384.86.

Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold a total of 9,033 shares of company stock worth $3,095,820 in the last 90 days. 0.60% of the stock is owned by 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.