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

Machina Capital S.A.S. reduced its position in Cigna Group (NYSE:CI) by 53.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Cigna Group by 10.0% in the 1st quarter. Assetmark Inc. now owns 65,662 shares of the health services provider’s stock valued at $17,515,000 after purchasing an additional 5,963 shares during the last quarter. Mystic Asset Management Inc. acquired a new stake in shares of Cigna Group during the 2nd quarter worth approximately $2,808,000. KBC Group NV raised its stake in shares of Cigna Group by 6.4% during the second quarter. KBC Group NV now owns 380,034 shares of the health services provider’s stock worth $104,768,000 after buying an additional 22,978 shares during the last quarter. Nykredit A S bought a new stake in shares of Cigna Group during the second quarter worth approximately $15,300,000. Finally, Sanctuary Advisors LLC acquired a new position in Cigna Group in the second quarter valued at approximately $11,043,000. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicole Jones sold 2,677 shares of Cigna Group stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares of the company’s stock, valued at $7,236,306.80. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 business’s stock in a transaction on 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 transaction, the insider directly owned 5,053 shares of the company’s stock, valued at $1,435,304.65. This trade represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Cigna Group Stock Performance

Shares of CI stock opened at $296.14 on Friday. The stock 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 stock has a 50-day moving average of $287.30 and a 200-day moving average of $282.56. 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 has a one year low of $257.85 and a one year high of $318.05.

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

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a $1.56 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 annualized dividend and a yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is 27.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CI shares. Wells Fargo & Company set a $390.00 price objective on shares of Cigna Group in a research note on Wednesday. Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a research note on Sunday, November 8th. Robert W. Baird set a $362.00 price target on Cigna Group in a research note on Friday, July 31st. UBS Group restated a “buy” rating on shares of Cigna Group in a research report on Thursday, October 1st. Finally, Guggenheim decreased their price objective on Cigna Group from $361.00 to $347.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Fourteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.15.

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
• Negative Sentiment: Piper Sandler cut its target to $360 from $370, tempering its valuation outlook, though it retained an Overweight rating. Piper Sandler cuts Cigna target

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.