The Cigna Group (NYSE:CI) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC reduced its stake in The Cigna Group (NYSE:CI) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,910 shares of the health services provider’s stock after selling 63 shares during the period. Boston Financial Mangement LLC’s holdings in The Cigna Group were worth $1,008,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC purchased a new position in The Cigna Group in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the second quarter worth about $66,000. Finally, Private Ocean LLC lifted its position in shares of The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays raised their price target 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. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Price Performance

NYSE CI opened at $308.23 on Wednesday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $87.56 billion, a PE ratio of 25.31, a P/E/G ratio of 1.05 and a beta of 0.50. The company’s 50 day simple moving average is $347.73 and its 200 day simple moving average is $342.16.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter last year, the business earned $6.13 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities research analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently 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.