Cigna Group $CI Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC lowered its stake in Cigna Group (NYSE:CI) by 62.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,714 shares of the health services provider’s stock after selling 2,815 shares during the period. Nemes Rush Group LLC’s holdings in Cigna Group were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Osbon Capital Management LLC purchased a new stake in shares of Cigna Group during the second quarter worth approximately $26,000. Putney Financial Group LLC purchased a new position in shares of Cigna Group in the 3rd quarter valued at about $27,000. Johnson Financial Group Inc. acquired a new position in Cigna Group in the second quarter valued at approximately $29,000. Fiduciary Financial Advisors purchased a new position in Cigna Group in the second quarter valued at approximately $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Cigna Group in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, insider Nicole Jones sold 2,677 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the transaction, the insider owned 25,880 shares in the company, valued at $7,236,306.80. The trade was a 9.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Cigna Group Stock Up 0.6%

Shares of NYSE:CI opened at $295.37 on Tuesday. The stock has a market cap of $78.05 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.03 and a beta of 0.25. The firm has a fifty day moving average price of $286.14 and a 200 day moving average price of $282.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76. Cigna Group has a 1-year low of $256.52 and a 1-year high of $318.05.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, November 5th. The health services provider reported $7.98 EPS for the quarter, beating analysts’ consensus estimates of $7.52 by $0.46. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The company had revenue of $73.79 billion for the quarter, compared to analyst estimates of $72.64 billion. During the same period in the previous year, the business posted $7.83 earnings per share. Cigna Group’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Cigna Group will post 30.62 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is currently 27.54%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler restated an “overweight” rating on shares of Cigna Group in a research report on Friday, October 23rd. Wells Fargo & Company lifted their price target on shares of Cigna Group from $305.00 to $307.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Jefferies Financial Group cut shares of Cigna Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $336.00 to $307.00 in a research report on Tuesday, August 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $337.00 price objective on shares of Cigna Group in a research note on Thursday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cigna Group in a report on Thursday, August 27th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $336.20.

Cigna Group Company Profile

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members.

Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.

The company serves customers in the United States and select international markets.