Cigna Group $CI Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Cigna Group (NYSE:CI) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,630 shares of the health services provider’s stock after selling 3,274 shares during the period. Truist Financial Corp’s holdings in Cigna Group were worth $18,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CI. Solstein Capital LLC acquired a new position in shares of Cigna Group during the 2nd quarter worth $29,000. Harbor Capital Advisors Inc. raised its position in Cigna Group by 119.5% during the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 49 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Cigna Group in the second quarter valued at about $30,000. Princeton Global Asset Management LLC increased its stake in shares of Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. Finally, Quaker Wealth Management LLC raised its position in shares of Cigna Group by 201.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 106 shares of the health services provider’s stock worth $35,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CI. Wells Fargo & Company dropped their price target on Cigna Group from $354.00 to $300.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Wolfe Research dropped their price objective on Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a report on Monday, November 3rd. JPMorgan Chase & Co. lowered their price target on shares of Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. Finally, Mizuho set a $325.00 price objective on shares of Cigna Group in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.84.

Cigna Group Price Performance

Shares of Cigna Group stock opened at $273.69 on Friday. The business’s fifty day moving average price is $274.57 and its 200 day moving average price is $284.65. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $73.11 billion, a P/E ratio of 12.07, a PEG ratio of 0.96 and a beta of 0.26.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating the consensus estimate of $7.64 by $0.19. The business had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $7.51 EPS. As a group, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Insider Buying and Selling at Cigna Group

In related news, CEO David Cordani purchased 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the acquisition, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.