Beaton Management Co. Inc. Reduces Position in The Cigna Group (NYSE:CI)

Beaton Management Co. Inc. reduced its stake in The Cigna Group (NYSE:CI) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,471 shares of the health services provider’s stock after selling 37 shares during the quarter. Beaton Management Co. Inc.’s holdings in The Cigna Group were worth $856,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CI. Seizert Capital Partners LLC lifted its holdings in The Cigna Group by 203.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 125,529 shares of the health services provider’s stock valued at $43,488,000 after purchasing an additional 84,096 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its position in shares of The Cigna Group by 3.5% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 15,261 shares of the health services provider’s stock valued at $5,287,000 after buying an additional 510 shares during the last quarter. KPP Advisory Services LLC lifted its stake in shares of The Cigna Group by 8.6% during the third quarter. KPP Advisory Services LLC now owns 1,277 shares of the health services provider’s stock valued at $442,000 after buying an additional 101 shares during the period. Linscomb Wealth Inc. boosted its position in The Cigna Group by 1.6% during the third quarter. Linscomb Wealth Inc. now owns 10,508 shares of the health services provider’s stock worth $3,641,000 after acquiring an additional 170 shares during the last quarter. Finally, Simplify Asset Management Inc. grew its stake in The Cigna Group by 328.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 20,933 shares of the health services provider’s stock worth $7,252,000 after acquiring an additional 16,045 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $321.52 on Friday. The firm has a fifty day moving average of $338.88 and a 200-day moving average of $339.55. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $89.43 billion, a P/E ratio of 30.33, a PEG ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.77 EPS. As a group, analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on CI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada lowered their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. 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 report on Wednesday, August 21st. Finally, Barclays boosted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $394.64.

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.