The Cigna Group (NYSE:CI) Stock Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of The Cigna Group (NYSE:CI - Free Report) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,959 shares of the health services provider's stock after selling 1,936 shares during the period. Mutual of America Capital Management LLC's holdings in The Cigna Group were worth $14,536,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the 1st quarter worth about $29,000. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group in the second quarter worth $66,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the company'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 transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. This represents a 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Stephens reiterated an "overweight" rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Piper Sandler restated an "overweight" rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of "Buy" and a consensus target price of $394.64.

The Cigna Group Stock Down 0.7 %

Shares of CI traded down $2.36 during midday trading on Friday, hitting $321.52. The company had a trading volume of 1,650,180 shares, compared to its average volume of 2,250,354. The stock has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 0.97 and a beta of 0.51. The company's 50 day moving average price is $338.88 and its 200 day moving average price is $339.55. 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 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 announced 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the company earned $6.77 earnings per share. The Cigna Group's quarterly revenue was up 29.8% on a year-over-year basis. On average, equities research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed 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 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's dividend payout ratio is presently 52.83%.

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.