The Cigna Group (NYSE:CI) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its holdings in shares of The Cigna Group (NYSE:CI) by 2.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,983 shares of the health services provider’s stock after selling 42 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in The Cigna Group were worth $687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of The Cigna Group by 240.8% in the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after acquiring an additional 11,782 shares during the period. Fisher Asset Management LLC boosted its stake in The Cigna Group by 16.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,550 shares of the health services provider’s stock valued at $464,000 after purchasing an additional 214 shares in the last quarter. &PARTNERS acquired a new position in shares of The Cigna Group during the 1st quarter valued at $328,000. Douglas Lane & Associates LLC acquired a new stake in shares of The Cigna Group in the first quarter valued at $648,000. Finally, Opal Wealth Advisors LLC bought a new position in The Cigna Group during the first quarter valued at about $178,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $336.00 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock’s 50-day moving average is $350.66 and its two-hundred day moving average is $344.29. 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 cap of $95.45 billion, a P/E ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued 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% on a year-over-year basis. During the same quarter last year, the firm earned $6.13 earnings per share. Analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

Several equities research analysts have commented on CI shares. Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. One 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 stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $392.79.

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.