9,430 Cigna Group $CI Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. trimmed its stake in Cigna Group (NYSE:CI) by 53.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,350 shares of the health services provider’s stock after selling 9,430 shares during the period. Machina Capital S.A.S.’s holdings in Cigna Group were worth $2,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CI. GQG Partners LLC bought a new position in shares of Cigna Group during the 2nd quarter worth about $1,628,918,000. Bank of America Corp DE bought a new stake in shares of Cigna Group in the 2nd quarter worth approximately $827,692,000. Legal & General Group Plc bought a new position in Cigna Group in the second quarter worth $542,779,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Cigna Group during the 2nd quarter valued at about $241,312,000. Finally, BlackRock Inc. boosted its holdings in Cigna Group by 3.7% during the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock valued at $6,461,457,000 after purchasing an additional 840,098 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 2,677 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the sale, the insider owned 25,880 shares of the company’s stock, valued at $7,236,306.80. This represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the sale, the insider owned 5,053 shares of the company’s stock, valued at $1,435,304.65. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. 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 Down 1.8%

NYSE CI opened at $296.14 on Friday. The stock’s 50 day simple moving average is $287.30 and its 200 day simple moving average is $282.56. Cigna Group has a one year low of $257.85 and a one year high of $318.05. The firm has a market cap of $78.03 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, November 5th. The health services provider reported $7.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.52 by $0.46. The firm had revenue of $73.79 billion during the quarter, compared to the consensus estimate of $72.64 billion. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.83 EPS. As a group, sell-side analysts forecast that Cigna Group will post 30.72 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $1.56 dividend. The ex-dividend date 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 27.54%.

Trending Headlines about Cigna Group

These are some of the CI headlines that stood out recently:

• Positive Sentiment: Recent coverage highlighted Cigna’s raised forecast, long-term growth runway and inclusion in CIBC’s defensive stock picks. Another report pointed to a stronger third-quarter outlook, which may support investor confidence. Cigna Group raised forecast and CIBC defensive basket Cigna outlook after strong third quarter
• Positive Sentiment: Cigna recently moved above its 20-day moving average, a technical signal that the cited analysis characterized as short-term bullish. Cigna breaks above 20-day moving average
• Neutral Sentiment: Jefferies raised its price target to $304 from $288 but maintained a Hold rating, indicating limited projected upside at the cited share price. Jefferies adjusts Cigna price target

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Robert W. Baird set a $362.00 price objective on Cigna Group in a research note on Friday, July 31st. Guggenheim reduced their target price on shares of Cigna Group from $361.00 to $347.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Piper Sandler dropped their target price on shares of Cigna Group from $370.00 to $360.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore assumed coverage on shares of Cigna Group in a research report on Wednesday, September 9th. They set an “in-line” rating and a $290.00 target price for the company. Finally, UBS Group reissued a “buy” rating on shares of Cigna Group in a report on Thursday, October 1st. Fourteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group has an average rating of “Moderate Buy” and a consensus target price of $340.15.

Cigna Group 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.