The Cigna Group (NYSE:CI) Shares Sold by Red Spruce Capital LLC

Red Spruce Capital LLC cut its stake in shares of The Cigna Group (NYSE:CI) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,333 shares of the health services provider’s stock after selling 319 shares during the period. The Cigna Group makes up 1.3% of Red Spruce Capital LLC’s holdings, making the stock its 24th biggest holding. Red Spruce Capital LLC’s holdings in The Cigna Group were worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CI. Silicon Valley Capital Partners boosted its holdings in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new stake in The Cigna Group during the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. lifted its holdings in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the 2nd quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $1.14 on Friday, hitting $341.70. The stock had a trading volume of 720,032 shares, compared to its average volume of 1,495,753. The stock has a market cap of $97.07 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company’s 50 day moving average price is $348.53 and its 200 day moving average price is $345.06.

The Cigna Group (NYSE:CI) last posted 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 business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.13 earnings per share. On average, research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective 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 assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $392.79.

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.