The Cigna Group (NYSE:CI) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its stake in The Cigna Group (NYSE:CI - Free Report) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,240 shares of the health services provider's stock after selling 3,410 shares during the period. The Cigna Group accounts for approximately 0.7% of Crossmark Global Holdings Inc.'s portfolio, making the stock its 19th largest position. Crossmark Global Holdings Inc.'s holdings in The Cigna Group were worth $40,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the 1st quarter worth approximately $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the second quarter worth approximately $33,000. Ulland Investment Advisors LLC increased its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research report on Monday, November 4th. StockNews.com lowered The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of "Buy" and an average price target of $394.64.

The Cigna Group Price Performance

Shares of CI traded up $0.28 on Friday, reaching $319.77. The stock had a trading volume of 1,315,168 shares, compared to its average volume of 2,002,435. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The firm has a market capitalization of $88.94 billion, a PE ratio of 30.17, a PEG ratio of 0.95 and a beta of 0.51. The firm has a 50-day moving average of $341.73 and a 200 day moving average of $340.35. 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 (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business's revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $6.77 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is currently 52.83%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares of the company's stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

About The Cigna Group

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.