Patriot Financial Group Insurance Agency LLC Sells 205 Shares of The Cigna Group (NYSE:CI)

28 Oct 2024, 12:54 by Jessica Moore · The Cerbat Gem

Patriot Financial Group Insurance Agency LLC lessened its holdings in shares of The Cigna Group (NYSE:CI – Free Report) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,759 shares of the health services provider’s stock after selling 205 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in The Cigna Group were worth $1,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Vanguard Group Inc. raised its holdings in shares of 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 worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in The Cigna Group by 6.4% during the first 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 purchasing an additional 867,180 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after buying an additional 600,215 shares in the last quarter. Swedbank AB bought a new stake in shares of The Cigna Group in the 1st quarter worth about $161,300,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

NYSE:CI traded down $1.71 during mid-day trading on Monday, hitting $315.14. The company’s stock had a trading volume of 426,881 shares, compared to its average volume of 1,496,426. The business’s fifty day moving average is $348.97 and its two-hundred day moving average is $342.73. The stock has a market cap of $89.52 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI – Get Free Report) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $6.13 EPS. Analysts anticipate that The Cigna Group will post 28.48 EPS 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. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.78%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

A number of brokerages have issued reports on CI. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target 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, Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $392.79.

View Our Latest Stock Analysis on The Cigna Group

The Cigna Group Company Profile

(Free Report)

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.