The Cigna Group (NYSE:CI) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its position in shares of The Cigna Group (NYSE:CI - Free Report) by 44.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,343 shares of the health services provider's stock after selling 3,492 shares during the period. Cornercap Investment Counsel Inc.'s holdings in The Cigna Group were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CI. Cedar Wealth Management LLC purchased a new stake in The Cigna Group in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% during the 3rd 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 during the period. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group during the second quarter worth about $66,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Performance

Shares of CI traded down $2.36 during midday trading on Friday, reaching $321.52. 1,635,786 shares of the stock were exchanged, compared to its average volume of 1,545,469. The business's 50-day moving average price is $339.52 and its 200 day moving average price is $339.91. The company has a market capitalization of $89.43 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data 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 during 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 company's revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned $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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group's payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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 for the company in a report on Friday, November 1st. Barclays increased their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Piper Sandler reiterated an "overweight" rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, StockNews.com lowered shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $394.64.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company's stock in a transaction 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 transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 13.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

The Cigna Group Company 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.