Alexander Randolph Advisory Inc. Sells 268 Shares of The Cigna Group (NYSE:CI)

Alexander Randolph Advisory Inc. trimmed its holdings in The Cigna Group (NYSE:CI) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,524 shares of the health services provider’s stock after selling 268 shares during the quarter. The Cigna Group makes up approximately 2.3% of Alexander Randolph Advisory Inc.’s holdings, making the stock its 15th biggest position. Alexander Randolph Advisory Inc.’s holdings in The Cigna Group were worth $2,607,000 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 shares of The Cigna Group during the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC increased its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the 3rd quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at about $66,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 1.1 %

NYSE:CI traded down $3.65 during midday trading on Wednesday, hitting $336.22. The stock had a trading volume of 305,758 shares, compared to its average volume of 1,537,391. The stock has a 50-day moving average of $340.84 and a 200 day moving average of $340.08. The company has a market capitalization of $93.52 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 1.03 and a beta of 0.51. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. 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 (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for 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 business’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 EPS. As a group, sell-side analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.67%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $394.64.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

The Cigna Group 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.