Pacer Advisors Inc. Trims Stake in The Cigna Group (NYSE:CI)

Pacer Advisors Inc. reduced its position in The Cigna Group (NYSE:CI) by 5.7% in the 2nd quarter, Holdings Channel reports. The firm owned 21,264 shares of the health services provider’s stock after selling 1,275 shares during the period. Pacer Advisors Inc.’s holdings in The Cigna Group were worth $7,029,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CI. Vanguard Group Inc. raised its stake in The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after acquiring an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. Focused Investors Fund L P purchased a new stake in The Cigna Group during the 1st quarter valued at approximately $205,529,000. Swedbank AB purchased a new stake in The Cigna Group during the 1st quarter valued at approximately $161,300,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in The Cigna Group by 526.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after acquiring an additional 305,490 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $354.92 on Tuesday. The business’s fifty day moving average price is $347.49 and its two-hundred day moving average price is $345.17. The stock has a market cap of $100.82 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

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

The Cigna Group Announces Dividend

The business 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. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analysts Set New Price Targets

Several research firms have commented on CI. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Barclays increased their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note 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 data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $392.79.

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.