Sentry Investment Management LLC Reduces Stock Position in The Cigna Group (NYSE:CI)

Sentry Investment Management LLC lessened its holdings in shares of The Cigna Group (NYSE:CI) by 34.3% during the third quarter, Holdings Channel reports. The firm owned 927 shares of the health services provider’s stock after selling 485 shares during the quarter. Sentry Investment Management LLC’s holdings in The Cigna Group were worth $321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group during the second quarter valued at about $66,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE CI opened at $312.32 on Tuesday. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The stock has a 50-day moving average of $344.94 and a 200 day moving average of $341.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $86.87 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.96 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 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business posted $6.77 earnings per share. On average, sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.79%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CI. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $394.00.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the 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 transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

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.