M&G Plc Sells 5,790 Shares of The Cigna Group (NYSE:CI)

M&G Plc reduced its position in The Cigna Group (NYSE:CI) by 24.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,033 shares of the health services provider’s stock after selling 5,790 shares during the quarter. M&G Plc’s holdings in The Cigna Group were worth $6,239,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its stake in The Cigna Group by 28.0% in the 1st quarter. Wealthspire Advisors LLC now owns 1,967 shares of the health services provider’s stock worth $714,000 after acquiring an additional 430 shares during the last quarter. PFG Advisors increased its position in shares of The Cigna Group by 20.2% in the first quarter. PFG Advisors now owns 2,024 shares of the health services provider’s stock worth $735,000 after purchasing an additional 340 shares during the last quarter. Smithfield Trust Co raised its stake in The Cigna Group by 4.7% in the first quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $393,000 after purchasing an additional 48 shares in the last quarter. Horizon Investment Services LLC bought a new stake in The Cigna Group during the first quarter valued at approximately $2,293,000. Finally, Atomi Financial Group Inc. grew its stake in The Cigna Group by 14.3% in the 1st quarter. Atomi Financial Group Inc. now owns 1,461 shares of the health services provider’s stock worth $530,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $394.64.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction 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 directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $319.83 on Friday. The company’s fifty day simple moving average is $341.73 and its two-hundred day simple moving average is $340.43. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The firm has a market cap of $88.96 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. As a group, equities analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

The Cigna Group 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.