The Cigna Group (NYSE:CI) Shares Sold by King Wealth Management Group

King Wealth Management Group decreased its position in The Cigna Group (NYSE:CI) by 16.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,201 shares of the health services provider’s stock after selling 1,665 shares during the period. King Wealth Management Group’s holdings in The Cigna Group were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Checchi Capital Advisers LLC lifted its position in The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares in the last quarter. IFG Advisors LLC increased its stake in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after purchasing an additional 32 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft reduced their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $394.64.

Insider Activity 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 that occurred on Monday, August 19th. The shares were 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 $6,010,264.52. This represents a 13.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

The Cigna Group Price Performance

NYSE:CI opened at $323.88 on Friday. The stock has a market capitalization of $90.09 billion, a PE ratio of 30.55, a P/E/G ratio of 1.00 and a beta of 0.51. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The firm has a fifty day simple moving average of $340.14 and a 200 day simple moving average of $340.02. 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 Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the business earned $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is presently 52.83%.

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.