Edgestream Partners L.P. Sells 3,200 Shares of The Cigna Group (NYSE:CI)

Edgestream Partners L.P. cut its stake in The Cigna Group (NYSE:CI) by 65.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,655 shares of the health services provider’s stock after selling 3,200 shares during the quarter. Edgestream Partners L.P.’s holdings in The Cigna Group were worth $547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gryphon Financial Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $230,000. Clearbridge Investments LLC acquired a new position in The Cigna Group in the fourth quarter valued at about $490,000. Quest Partners LLC bought a new stake in The Cigna Group during the fourth quarter worth about $53,000. Aigen Investment Management LP acquired a new stake in shares of The Cigna Group during the fourth quarter worth approximately $301,000. Finally, Congress Wealth Management LLC DE raised its stake in shares of The Cigna Group by 14.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,067 shares of the health services provider’s stock valued at $1,817,000 after acquiring an additional 761 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CI shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Piper Sandler assumed 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 on the stock. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group increased 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 note on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Price Performance

Shares of CI opened at $356.14 on Monday. 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 stock has a market cap of $101.17 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The stock’s 50-day moving average price is $347.02 and its two-hundred day moving average price is $345.09. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.13 earnings per share. On average, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

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.