14,544 Cigna Group $CI Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Cigna stake by 14.8%, selling 14,544 shares in the third quarter and retaining 83,826 shares valued at about $22.8 million.
• Analysts’ consensus rating is “Moderate Buy,” with 14 Buy and eight Hold ratings and an average price target of $336.40; Cigna shares opened at $295.21.
• Cigna announced a quarterly dividend of $1.56 per share, equal to $6.24 annually and a 2.1% yield.

AIA Group Ltd lessened its position in Cigna Group (NYSE:CI - Free Report) by 14.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,826 shares of the health services provider's stock after selling 14,544 shares during the quarter. AIA Group Ltd's holdings in Cigna Group were worth $22,786,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Provenance Wealth Advisors LLC increased its stake in shares of Cigna Group by 198.1% in the third quarter. Provenance Wealth Advisors LLC now owns 4,618 shares of the health services provider's stock worth $1,255,000 after buying an additional 3,069 shares during the period. Lyell Wealth Management LP boosted its position in Cigna Group by 4.7% during the 3rd quarter. Lyell Wealth Management LP now owns 915 shares of the health services provider's stock valued at $249,000 after buying an additional 41 shares during the period. Associated Banc Corp purchased a new stake in Cigna Group during the 3rd quarter valued at $16,682,000. Putney Financial Group LLC bought a new stake in Cigna Group in the 3rd quarter worth $27,000. Finally, First Nebraska Trust Co bought a new stake in Cigna Group in the 3rd quarter worth $208,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Trading Up 0.0%

Cigna Group stock opened at $295.21 on Wednesday. The business has a 50-day simple moving average of $284.53 and a two-hundred day simple moving average of $281.77. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The company has a market cap of $78.01 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.00 and a beta of 0.25. Cigna Group has a 52-week low of $255.53 and a 52-week high of $316.27.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Cigna Group's payout ratio is presently 25.82%.

Analyst Ratings Changes

Several analysts recently issued reports on CI shares. UBS Group reissued a "buy" rating on shares of Cigna Group in a research note on Thursday, October 1st. Piper Sandler reiterated an "overweight" rating on shares of Cigna Group in a research report on Friday, October 23rd. Jefferies Financial Group downgraded shares of Cigna Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $336.00 to $307.00 in a research note on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on Cigna Group from $305.00 to $307.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, Guggenheim increased their price objective on Cigna Group from $338.00 to $361.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of "Moderate Buy" and a consensus target price of $336.40.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Everett Neville sold 617 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the sale, the insider directly owned 5,053 shares of the company's stock, valued at $1,435,304.65. This trade represents a 10.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 2,677 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares of the company's stock, valued at $7,236,306.80. This trade represents a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

Cigna Group Profile

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.

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