KBC Group NV Sells 218,217 Shares of The Cigna Group (NYSE:CI)

KBC Group NV reduced its holdings in The Cigna Group (NYSE:CI - Free Report) by 28.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 542,561 shares of the health services provider's stock after selling 218,217 shares during the quarter. The Cigna Group comprises 0.6% of KBC Group NV's investment portfolio, making the stock its 27th largest position. KBC Group NV owned approximately 0.20% of The Cigna Group worth $187,964,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CI. Vanguard Group Inc. lifted its holdings in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider's stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider's stock valued at $5,208,593,000 after purchasing an additional 867,180 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of The Cigna Group by 6.1% during 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 purchasing an additional 150,765 shares in the last quarter. Ameriprise Financial Inc. grew its stake in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock worth $706,822,000 after purchasing an additional 405,694 shares during the period. Finally, AQR Capital Management LLC raised its holdings in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider's stock worth $510,467,000 after purchasing an additional 600,215 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $7.82 during trading on Thursday, reaching $324.22. 872,262 shares of the company traded hands, compared to its average volume of 1,540,548. 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 firm has a 50 day simple moving average of $340.14 and a 200-day simple moving average of $340.02. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market capitalization of $90.18 billion, a PE ratio of 31.30, a P/E/G ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm's revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 EPS. Equities research analysts anticipate 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 issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's dividend payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of research reports. StockNews.com cut shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $394.64.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

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.