Entropy Technologies LP Invests $2.31 Million in The Cigna Group (NYSE:CI)

Entropy Technologies LP bought a new stake in shares of The Cigna Group (NYSE:CI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,672 shares of the health services provider's stock, valued at approximately $2,311,000.

Several other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its holdings in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider's stock valued at $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider's stock valued at $729,000 after purchasing an additional 31 shares during the period. IFG Advisors LLC raised its stake in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider's stock worth $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider's stock valued at $240,000 after buying an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider's stock worth $371,000 after buying an additional 32 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

The Cigna Group Trading Down 2.3 %

NYSE CI traded down $7.98 on Wednesday, reaching $331.89. 729,086 shares of the company were exchanged, compared to its average volume of 1,539,478. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The business's fifty day moving average price is $340.84 and its 200 day moving average price is $340.08. The stock has a market capitalization of $92.32 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for 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 Cigna Group's revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the business posted $6.77 EPS. Analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is 52.83%.

Analyst Ratings Changes

Several analysts have recently commented on CI shares. 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 report on Friday, November 1st. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com downgraded The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Cigna Group presently has an average rating of "Buy" and a consensus target price 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.