The Cigna Group (NYSE:CI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,286 shares of the health services provider's stock after selling 10,594 shares during the quarter. Los Angeles Capital Management LLC's holdings in The Cigna Group were worth $27,121,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Sigma Planning Corp increased its holdings in shares of The Cigna Group by 44.5% in the third quarter. Sigma Planning Corp now owns 3,089 shares of the health services provider's stock valued at $1,070,000 after purchasing an additional 952 shares during the period. Covestor Ltd grew its holdings in The Cigna Group by 151.7% during the third quarter. Covestor Ltd now owns 818 shares of the health services provider's stock worth $284,000 after acquiring an additional 493 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in The Cigna Group by 5.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 2,497 shares of the health services provider's stock worth $866,000 after acquiring an additional 139 shares during the period. Assetmark Inc. grew its holdings in The Cigna Group by 1.8% during the third quarter. Assetmark Inc. now owns 268,056 shares of the health services provider's stock worth $92,865,000 after acquiring an additional 4,847 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in The Cigna Group during the third quarter worth about $2,644,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 17,539 shares in the company, 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 SEC, which is available through this link. Company insiders own 0.60% of the company's stock.

The Cigna Group Price Performance

Shares of NYSE CI traded up $23.43 during midday trading on Monday, hitting $343.20. The stock had a trading volume of 2,585,683 shares, compared to its average volume of 1,539,960. The company has a market capitalization of $95.46 billion, a PE ratio of 32.45, a P/E/G ratio of 0.96 and a beta of 0.51. The stock has a 50 day simple moving average of $341.73 and a 200-day simple moving average of $340.26. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. 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 released 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 business had revenue of $63.70 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.63%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. StockNews.com lowered The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and an average target price of $394.64.

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.