HFG Advisors Inc. Trims Stock Position in The Cigna Group (NYSE:CI)

HFG Advisors Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 37.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 612 shares of the health services provider’s stock after selling 366 shares during the quarter. HFG Advisors Inc.’s holdings in The Cigna Group were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD grew its position in The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Sanders Capital LLC grew its position in The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after purchasing an additional 97,277 shares during the last quarter. Norges Bank purchased a new stake in The Cigna Group during the 4th quarter valued at about $1,006,348,000. Finally, Parnassus Investments LLC lifted its stake in The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after acquiring an additional 126,598 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.3 %

Shares of CI stock traded up $1.12 on Friday, hitting $336.14. The stock had a trading volume of 969,003 shares, compared to its average volume of 1,580,063. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $335.43 and a 200 day moving average price of $339.84. The company has a market cap of $95.49 billion, a PE ratio of 27.60, a P/E/G ratio of 1.02 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year high of $365.71.

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

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders have sold a total of 22,988 shares of company stock worth $7,975,726 over the last quarter. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $384.64.

About The Cigna Group

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.