King Wealth Management Group Sells 1,665 Shares of The Cigna Group (NYSE:CI)

King Wealth Management Group trimmed its holdings in The Cigna Group (NYSE:CI - Free Report) by 16.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,201 shares of the health services provider's stock after selling 1,665 shares during the quarter. King Wealth Management Group's holdings in The Cigna Group were worth $2,841,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of 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 boosted its stake in 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 worth $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider's stock worth $869,078,000 after purchasing an additional 150,765 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock valued at $706,822,000 after acquiring an additional 405,694 shares during the period. Finally, AQR Capital Management LLC lifted its stake in The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider's stock valued at $510,467,000 after acquiring an additional 600,215 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CI shares. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Stephens restated an "overweight" rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of "Buy" and an average price target of $394.64.

The Cigna Group Stock Performance

The Cigna Group stock traded down $2.36 during midday trading on Friday, hitting $321.52. The stock had a trading volume of 1,635,786 shares, compared to its average volume of 1,545,469. The firm's fifty day moving average is $339.52 and its two-hundred day moving average is $339.91. The company has a market capitalization of $89.43 billion, a PE ratio of 30.36, a P/E/G ratio of 1.00 and a beta of 0.51. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. 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 Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the firm posted $6.77 EPS. The company's revenue was up 29.8% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

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.