Ameritas Investment Partners Inc. Sells 88 Shares of The Cigna Group (NYSE:CI)

Ameritas Investment Partners Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 2.7% in the first quarter, HoldingsChannel.com reports. The fund owned 3,164 shares of the health services provider’s stock after selling 88 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in The Cigna Group were worth $1,149,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Silicon Valley Capital Partners lifted its holdings in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Byrne Asset Management LLC purchased a new position in The Cigna Group in the 1st quarter worth $51,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in The Cigna Group in the 4th quarter worth $43,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 0.1 %

NYSE:CI traded up $0.38 during mid-day trading on Tuesday, hitting $336.17. 603,377 shares of the company’s stock were exchanged, compared to its average volume of 1,576,473. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $335.06 and a 200 day moving average price of $337.05. The company has a market cap of $95.50 billion, a PE ratio of 27.57, a P/E/G ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the previous year, the firm posted $5.41 earnings per share. The Cigna Group’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CI shares. Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Oppenheimer lifted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler started coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $376.20.

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.