Brown Financial Advisors Sells 3,907 Shares of The Cigna Group (NYSE:CI)

Brown Financial Advisors cut its position in shares of The Cigna Group (NYSE:CI - Free Report) by 76.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,236 shares of the health services provider's stock after selling 3,907 shares during the quarter. Brown Financial Advisors' holdings in The Cigna Group were worth $428,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider's stock worth $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Geode Capital Management LLC increased its position in shares of The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider's stock worth $2,021,563,000 after purchasing an additional 22,408 shares in the last quarter. Parnassus Investments LLC lifted its holdings in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider's stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider's stock valued at $869,078,000 after buying an additional 150,765 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Down 5.4 %

Shares of CI traded down $16.75 on Wednesday, hitting $294.62. The company's stock had a trading volume of 2,447,580 shares, compared to its average volume of 1,554,803. The firm's fifty day moving average price is $329.73 and its 200-day moving average price is $337.77. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a fifty-two week low of $288.88 and a fifty-two week high of $370.83. The firm has a market capitalization of $81.95 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 0.96 and a beta of 0.50.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 EPS. On average, equities research analysts expect that The Cigna Group will post 28.49 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CI shares. Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Stephens reiterated an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $394.64.

The Cigna Group Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.