The Cigna Group (NYSE:CI) Stock Holdings Lessened by Matrix Private Capital Group LLC

Matrix Private Capital Group LLC cut its holdings in The Cigna Group (NYSE:CI) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,363 shares of the health services provider’s stock after selling 48 shares during the period. Matrix Private Capital Group LLC’s holdings in The Cigna Group were worth $348,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Kalos Management Inc. bought a new stake in The Cigna Group in the first quarter valued at $27,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in The Cigna Group in the 1st quarter valued at about $29,000. MBM Wealth Consultants LLC acquired a new position in The Cigna Group during the 4th quarter valued at about $36,000. Heritage Wealth Management LLC grew its position in The Cigna Group by 280.6% in the 4th quarter. Heritage Wealth Management LLC now owns 118 shares of the health services provider’s stock worth $39,000 after purchasing an additional 87 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in shares of The Cigna Group in the first quarter valued at approximately $40,000. Institutional investors own 85.32% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $281.48 on Friday. The stock’s fifty day simple moving average is $284.32 and its 200 day simple moving average is $271.68. The stock has a market capitalization of $83.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.02 and a beta of 0.66. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.62. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $340.11.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.15. The firm had revenue of $48.59 billion for the quarter, compared to analysts’ expectations of $47.24 billion. The Cigna Group had a return on equity of 12.32% and a net margin of 3.57%. The Cigna Group’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $6.22 EPS. As a group, sell-side analysts forecast that The Cigna Group will post 24.8 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be given a $1.23 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $4.92 annualized dividend and a dividend yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is presently 22.40%.

Insider Buying and Selling

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 12,250 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $291.00, for a total transaction of $3,564,750.00. Following the sale, the senior vice president now directly owns 2,093 shares of the company’s stock, valued at approximately $609,063. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 12,250 shares of The Cigna Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $291.00, for a total transaction of $3,564,750.00. Following the transaction, the senior vice president now owns 2,093 shares of the company’s stock, valued at approximately $609,063. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Evanko sold 2,307 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $300.00, for a total transaction of $692,100.00. Following the completion of the sale, the chief financial officer now directly owns 31,332 shares of the company’s stock, valued at $9,399,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,767 shares of company stock valued at $11,498,468. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on The Cigna Group from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Raymond James raised their price target on The Cigna Group from $310.00 to $330.00 and gave the company a “strong-buy” rating in a report on Monday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of The Cigna Group from $356.00 to $341.00 in a report on Friday, July 7th. Truist Financial lowered their target price on shares of The Cigna Group from $375.00 to $365.00 in a research note on Tuesday, June 20th. Finally, Edward Jones lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.79.

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.