3,494 Cigna Group $CI Shares Sold by Cortland Associates Inc. MO

by · The Markets Daily

Cortland Associates Inc. MO lowered its holdings in Cigna Group (NYSE:CI – Free Report) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,001 shares of the health services provider’s stock after selling 3,494 shares during the quarter. Cigna Group accounts for 4.5% of Cortland Associates Inc. MO’s holdings, making the stock its 9th biggest position. Cortland Associates Inc. MO’s holdings in Cigna Group were worth $30,717,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Evercore Wealth Management LLC lifted its position in Cigna Group by 2.8% during the first quarter. Evercore Wealth Management LLC now owns 1,301 shares of the health services provider’s stock valued at $347,000 after purchasing an additional 35 shares during the period. Independence Bank of Kentucky boosted its holdings in Cigna Group by 2.6% in the second quarter. Independence Bank of Kentucky now owns 1,483 shares of the health services provider’s stock valued at $409,000 after purchasing an additional 37 shares during the last quarter. West Family Investments Inc. grew its position in Cigna Group by 4.2% during the 2nd quarter. West Family Investments Inc. now owns 919 shares of the health services provider’s stock worth $253,000 after purchasing an additional 37 shares during the period. WPG Advisers LLC grew its position in Cigna Group by 24.5% during the 1st quarter. WPG Advisers LLC now owns 203 shares of the health services provider’s stock worth $54,000 after purchasing an additional 40 shares during the period. Finally, Maripau Wealth Management LLC raised its stake in shares of Cigna Group by 4.0% during the 1st quarter. Maripau Wealth Management LLC now owns 1,074 shares of the health services provider’s stock valued at $287,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore initiated coverage on Cigna Group in a report on Wednesday, September 9th. They issued an “in-line” rating and a $290.00 price objective for the company. Raymond James Financial lowered Cigna Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $350.00 to $320.00 in a report on Monday, August 3rd. Robert W. Baird set a $362.00 price target on Cigna Group in a research report on Friday, July 31st. Barclays boosted their price target on Cigna Group from $304.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cigna Group in a research report on Thursday, August 27th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $338.24.

Check Out Our Latest Stock Analysis on Cigna Group

Cigna Group Stock Performance

Shares of CI stock opened at $295.20 on Tuesday. The company has a market capitalization of $78.00 billion, a P/E ratio of 9.37, a P/E/G ratio of 1.00 and a beta of 0.29. The business’s 50 day moving average is $284.24 and its two-hundred day moving average is $281.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.68. Cigna Group has a 12-month low of $239.51 and a 12-month high of $316.27.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $1.56 per share. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is 25.82%.

Insider Buying and Selling

In related news, insider Everett Neville sold 617 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the sale, the insider owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. The trade was a 10.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,677 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider owned 25,880 shares of the company’s stock, valued at $7,236,306.80. This represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Cigna Group Company Profile

(Free Report)

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.

Featured Stories

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI – Free Report).