Cigna Group $CI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Cigna Group (NYSE:CI) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,670,970 shares of the health services provider’s stock after selling 34,600 shares during the quarter. Bank of New York Mellon Corp owned about 0.63% of Cigna Group worth $481,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Maj Invest Holding A S increased its stake in Cigna Group by 2.4% in the third quarter. Maj Invest Holding A S now owns 422,728 shares of the health services provider’s stock valued at $121,854,000 after purchasing an additional 10,042 shares during the last quarter. SCS Capital Management LLC grew its position in shares of Cigna Group by 39.1% in the 2nd quarter. SCS Capital Management LLC now owns 30,633 shares of the health services provider’s stock valued at $10,127,000 after buying an additional 8,609 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Cigna Group by 3.9% in the 2nd quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after buying an additional 6,155 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Cigna Group by 3.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock worth $11,882,000 after acquiring an additional 1,357 shares in the last quarter. Finally, Natixis lifted its position in Cigna Group by 69.5% in the second quarter. Natixis now owns 223,884 shares of the health services provider’s stock valued at $74,012,000 after acquiring an additional 91,794 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen set a $333.00 price objective on Cigna Group in a report on Monday, December 15th. Wells Fargo & Company dropped their price target on Cigna Group from $354.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Cigna Group from $415.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. The Goldman Sachs Group lowered their target price on shares of Cigna Group from $370.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Finally, Zacks Research upgraded shares of Cigna Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.36.

Insider Activity

In other news, CEO David Cordani purchased 4,134 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the acquisition, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Cigna Group Price Performance

Cigna Group stock opened at $272.68 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day simple moving average of $274.62 and a 200-day simple moving average of $284.95. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The stock has a market capitalization of $72.84 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.95 and a beta of 0.26.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.64 by $0.19. The company had revenue of $69.57 billion for the quarter, compared to analysts’ expectations of $66.40 billion. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. Cigna Group’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $7.51 EPS. Equities analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.