The Cigna Group (NYSE:CI) Stock Position Decreased by Pines Wealth Management LLC

Pines Wealth Management LLC cut its position in shares of The Cigna Group (NYSE:CI) by 3.7% in the first quarter, Holdings Channel reports. The firm owned 945 shares of the health services provider’s stock after selling 36 shares during the period. Pines Wealth Management LLC’s holdings in The Cigna Group were worth $297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Investments LP grew its holdings in The Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock valued at $211,219,000 after buying an additional 188,235 shares during the last quarter. Valley Wealth Managers Inc. grew its holdings in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after buying an additional 1,548 shares during the last quarter. Humankind Investments LLC grew its holdings in The Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after buying an additional 571 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in The Cigna Group by 11.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 35,056 shares of the health services provider’s stock valued at $9,680,000 after buying an additional 3,484 shares during the last quarter. Finally, Aubrey Capital Management Ltd grew its holdings in The Cigna Group by 91.8% in the 4th quarter. Aubrey Capital Management Ltd now owns 1,849 shares of the health services provider’s stock valued at $511,000 after buying an additional 885 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 0.2%

Shares of CI opened at $311.68 on Friday. The stock has a fifty day moving average price of $323.39 and a two-hundred day moving average price of $309.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market cap of $83.26 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the company posted $6.47 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group’s payout ratio is 33.44%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of The Cigna Group in a report on Tuesday, June 3rd. Cowen reissued a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Cantor Fitzgerald lifted their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Piper Sandler lifted their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Wall Street Zen raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $380.39.

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.