The Cigna Group (NYSE:CI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 9.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306,693 shares of the health services provider's stock after selling 31,037 shares during the period. Allspring Global Investments Holdings LLC owned 0.11% of The Cigna Group worth $106,251,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CI. Cedar Wealth Management LLC bought a new position in The Cigna Group in the first quarter worth about $29,000. TruNorth Capital Management LLC purchased a new stake in The Cigna Group during the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its stake in The Cigna Group by 2,500.0% in the third 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group in the second quarter worth $66,000. Finally, Private Ocean LLC increased its position in shares of The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock worth $66,000 after purchasing an additional 46 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 CI traded down $15.77 during mid-day trading on Monday, reaching $320.23. The company had a trading volume of 4,630,787 shares, compared to its average volume of 1,496,533. The stock has a 50 day moving average of $350.50 and a two-hundred day moving average of $343.89. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $90.97 billion, a P/E ratio of 26.29, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business's quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.13 EPS. On average, analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The Cigna Group's payout ratio is 45.98%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CI shares. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Royal Bank of Canada restated an "outperform" rating and set a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 2nd. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an "overweight" rating and a $400.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued 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 $392.79.

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.