44,042 Shares in Cigna Group $CI Purchased by One Way Holdings LLC

One Way Holdings LLC purchased a new stake in Cigna Group (NYSE:CI) in the third quarter, Holdings Channel reports. The firm purchased 44,042 shares of the health services provider’s stock, valued at approximately $11,972,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Heritage Investors Management Corp grew its holdings in Cigna Group by 1.9% in the 3rd quarter. Heritage Investors Management Corp now owns 17,843 shares of the health services provider’s stock valued at $4,850,000 after buying an additional 330 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cigna Group in the 3rd quarter worth $24,386,000. Aviance Capital Partners LLC raised its holdings in shares of Cigna Group by 3.4% during the 3rd quarter. Aviance Capital Partners LLC now owns 20,897 shares of the health services provider’s stock worth $5,680,000 after acquiring an additional 690 shares during the period. ProShare Advisors LLC raised its holdings in shares of Cigna Group by 2.6% during the 3rd quarter. ProShare Advisors LLC now owns 49,517 shares of the health services provider’s stock worth $13,460,000 after acquiring an additional 1,258 shares during the period. Finally, Cidel Asset Management Inc. boosted its position in shares of Cigna Group by 8.2% during the 3rd quarter. Cidel Asset Management Inc. now owns 7,619 shares of the health services provider’s stock valued at $2,071,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Everett Neville sold 617 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the sale, the insider directly owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 19,436 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $276.27, for a total transaction of $5,369,583.72. Following the sale, the insider owned 27,256 shares of the company’s stock, valued at $7,530,015.12. This trade represents a 41.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 22,730 shares of company stock worth $6,293,359. 0.60% of the stock is currently owned by company insiders.

Cigna Group Stock Down 0.0%

Shares of CI opened at $298.13 on Monday. The company’s 50-day moving average price is $283.86 and its 200 day moving average price is $281.53. Cigna Group has a 12-month low of $239.51 and a 12-month high of $316.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.68. The firm has a market cap of $78.78 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.29.

Cigna Group (NYSE:CI) last announced its earnings results on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.18. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The company had revenue of $71.56 billion during the quarter, compared to analyst estimates of $70.14 billion. During the same quarter last year, the firm posted $7.20 earnings per share. Cigna Group’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts forecast that Cigna Group will post 30.49 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Cigna Group’s dividend payout ratio (DPR) is presently 25.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CI shares. Jefferies Financial Group lowered shares of Cigna Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $336.00 to $307.00 in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $337.00 target price on shares of Cigna Group in a report on Thursday, October 1st. Guggenheim boosted their target price on shares of Cigna Group from $338.00 to $361.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Evercore started coverage on shares of Cigna Group in a research note on Wednesday, September 9th. They issued an “in-line” rating and a $290.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $338.24.

Cigna Group Company Profile

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.