The Cigna Group (NYSE:CI) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in The Cigna Group (NYSE:CI) by 44.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,343 shares of the health services provider’s stock after selling 3,492 shares during the period. Cornercap Investment Counsel Inc.’s holdings in The Cigna Group were worth $1,505,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after buying an additional 625 shares during the last quarter. Marks Group Wealth Management Inc raised its stake in The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the period. Hancock Whitney Corp grew its stake in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares during the period. ORG Partners LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter worth $489,000. Finally, Tidal Investments LLC boosted its holdings in The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after acquiring an additional 4,043 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated 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 sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

Shares of NYSE CI opened at $323.88 on Friday. The company has a market capitalization of $90.09 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.00 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 firm has a 50-day moving average of $340.14 and a two-hundred day moving average of $340.02.

The Cigna Group (NYSE:CI) last posted 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 firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. As a group, analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid 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 is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CI. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group upped 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. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $394.64.

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.