Summit Global Investments Has $1.03 Million Stock Holdings in The Cigna Group (NYSE:CI)

Summit Global Investments trimmed its stake in shares of The Cigna Group (NYSE:CI) by 12.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,960 shares of the health services provider’s stock after selling 436 shares during the quarter. Summit Global Investments’ holdings in The Cigna Group were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CI. Atomi Financial Group Inc. grew its position in The Cigna Group by 14.3% in the first quarter. Atomi Financial Group Inc. now owns 1,461 shares of the health services provider’s stock valued at $530,000 after acquiring an additional 183 shares during the period. NorthRock Partners LLC increased its position in shares of The Cigna Group by 12.5% during the 1st quarter. NorthRock Partners LLC now owns 2,272 shares of the health services provider’s stock worth $825,000 after purchasing an additional 252 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in The Cigna Group by 4.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,205 shares of the health services provider’s stock valued at $1,527,000 after purchasing an additional 177 shares during the last quarter. Inspire Advisors LLC acquired a new position in The Cigna Group in the first quarter valued at about $234,000. Finally, Delta Financial Advisors LLC grew its stake in The Cigna Group by 7.5% during the first quarter. Delta Financial Advisors LLC now owns 3,615 shares of the health services provider’s stock worth $1,313,000 after buying an additional 251 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Up 0.1 %

NYSE CI opened at $319.77 on Friday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock has a 50-day simple moving average of $341.73 and a 200 day simple moving average of $340.43. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $88.94 billion, a PE ratio of 30.17, a P/E/G ratio of 0.95 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company posted $6.77 EPS. Research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

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

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $394.64.

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.