99,800 Cigna Group $CI Shares Sold by Focused Investors LLC

Focused Investors LLC lowered its stake in Cigna Group (NYSE:CI) by 15.9% during the third quarter, Holdings Channel reports. The firm owned 526,100 shares of the health services provider’s stock after selling 99,800 shares during the period. Cigna Group makes up approximately 5.9% of Focused Investors LLC’s investment portfolio, making the stock its 7th biggest position. Focused Investors LLC’s holdings in Cigna Group were worth $143,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Signature Equity Partners LLC boosted its stake in Cigna Group by 2,270.6% in the third quarter. Signature Equity Partners LLC now owns 403 shares of the health services provider’s stock valued at $110,000 after buying an additional 386 shares in the last quarter. One Way Holdings LLC bought a new position in shares of Cigna Group in the third quarter worth about $11,972,000. Heritage Investors Management Corp lifted its holdings in shares of Cigna Group by 1.9% in the third quarter. Heritage Investors Management Corp now owns 17,843 shares of the health services provider’s stock worth $4,850,000 after acquiring an additional 330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cigna Group in the 3rd quarter valued at approximately $24,386,000. Finally, Aviance Capital Partners LLC boosted its stake in shares of Cigna Group by 3.4% in the 3rd quarter. Aviance Capital Partners LLC now owns 20,897 shares of the health services provider’s stock valued at $5,680,000 after purchasing an additional 690 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 2,677 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed 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 stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total value of $175,258.85. Following the transaction, the insider owned 5,053 shares in the company, valued at $1,435,304.65. The trade was 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. 0.60% of the stock is owned by insiders.

Cigna Group Price Performance

Shares of NYSE:CI opened at $295.21 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. Cigna Group has a 52 week low of $255.53 and a 52 week high of $316.27. The firm has a market cap of $78.01 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.00 and a beta of 0.25. The firm’s fifty day moving average is $284.53 and its 200-day moving average is $281.77.

Cigna Group Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on CI shares. UBS Group reissued a “buy” rating on shares of Cigna Group in a research note on Thursday, October 1st. Robert W. Baird set a $362.00 target price on shares of Cigna Group in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a report on Saturday. Evercore initiated coverage on shares of Cigna Group in a report on Wednesday, September 9th. They set an “in-line” rating and a $290.00 price target for the company. Finally, Wells Fargo & Company increased their price target on Cigna Group from $305.00 to $307.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $336.40.

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.