Procyon Advisors LLC Sells 62 Shares of The Cigna Group (NYSE:CI)

Procyon Advisors LLC decreased its stake in shares of The Cigna Group (NYSE:CI) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619 shares of the health services provider’s stock after selling 62 shares during the quarter. Procyon Advisors LLC’s holdings in The Cigna Group were worth $215,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CI. Paladin Wealth LLC bought a new stake in shares of The Cigna Group during the third quarter valued at approximately $149,000. Redhawk Wealth Advisors Inc. raised its position in The Cigna Group by 1.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,234 shares of the health services provider’s stock valued at $774,000 after purchasing an additional 39 shares in the last quarter. Sheridan Capital Management LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter worth $210,000. Willner & Heller LLC grew its position in shares of The Cigna Group by 10.1% during the 3rd quarter. Willner & Heller LLC now owns 794 shares of the health services provider’s stock worth $275,000 after buying an additional 73 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of The Cigna Group by 45.1% during the third quarter. CHICAGO TRUST Co NA now owns 1,837 shares of the health services provider’s stock valued at $636,000 after buying an additional 571 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CI has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, October 1st. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Barclays increased their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, 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. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $392.79.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Up 2.8 %

The Cigna Group stock opened at $358.56 on Thursday. The stock has a 50-day moving average price of $350.30 and a 200 day moving average price of $344.56. The company has a market capitalization of $101.86 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

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

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.56%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

The Cigna Group Company 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.