The Cigna Group (NYSE:CI) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB cut its holdings in The Cigna Group (NYSE:CI) by 7.6% during the third quarter, HoldingsChannel reports. The firm owned 11,255 shares of the health services provider’s stock after selling 920 shares during the period. E. Ohman J or Asset Management AB’s holdings in The Cigna Group were worth $3,899,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of The Cigna Group by 240.8% in the fourth quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock valued at $4,993,000 after acquiring an additional 11,782 shares in the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of The Cigna Group in the 1st quarter valued at approximately $206,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of The Cigna Group by 7.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,484 shares of the health services provider’s stock valued at $539,000 after buying an additional 104 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of The Cigna Group by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,778 shares of the health services provider’s stock valued at $12,631,000 after buying an additional 3,066 shares in the last quarter. Finally, Transform Wealth LLC acquired a new position in The Cigna Group during the first quarter worth $233,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CI. Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $392.79.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Price Performance

CI stock opened at $318.24 on Friday. The stock has a market capitalization of $90.40 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The stock’s fifty day simple moving average is $349.85 and its 200-day simple moving average is $343.40. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the company earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business 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 $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The Cigna Group’s payout ratio is 45.98%.

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.