Cigna Group $CI Stock Holdings Trimmed by ARGA Investment Management LP

ARGA Investment Management LP reduced its position in shares of Cigna Group (NYSE:CI - Free Report) by 45.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,097 shares of the health services provider's stock after selling 68,876 shares during the period. ARGA Investment Management LP's holdings in Cigna Group were worth $22,045,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Osbon Capital Management LLC purchased a new stake in shares of Cigna Group during the 2nd quarter valued at approximately $26,000. Cedar Mountain Advisors LLC grew its position in Cigna Group by 161.9% in the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock worth $29,000 after acquiring an additional 68 shares during the period. Johnson Financial Group Inc. purchased a new position in Cigna Group in the second quarter worth approximately $29,000. Fiduciary Financial Advisors purchased a new position in Cigna Group in the second quarter worth approximately $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Cigna Group during the second quarter worth $34,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

CI has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cigna Group in a research note on Thursday, August 27th. Barclays increased their price target on Cigna Group from $304.00 to $310.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Jefferies Financial Group downgraded Cigna Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $336.00 to $307.00 in a research report on Tuesday, August 4th. Robert W. Baird set a $362.00 price objective on shares of Cigna Group in a report on Friday, July 31st. Finally, Wells Fargo & Company upped their target price on shares of Cigna Group from $305.00 to $307.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $336.40.

Insiders Place Their Bets

In other news, insider Everett Neville sold 617 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total value of $175,258.85. Following the sale, the insider directly owned 5,053 shares in the company, valued at approximately $1,435,304.65. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Cigna Group stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the transaction, the insider owned 25,880 shares of the company's stock, valued at approximately $7,236,306.80. This trade 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. 0.60% of the stock is currently owned by corporate insiders.

Cigna Group Stock Up 0.0%

Shares of CI opened at $295.21 on Wednesday. The stock has a market capitalization of $78.01 billion, a PE ratio of 12.21, a P/E/G ratio of 1.00 and a beta of 0.25. Cigna Group has a 1 year low of $255.53 and a 1 year high of $316.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The company's 50-day simple moving average is $284.53 and its 200-day simple moving average is $281.77.

Cigna Group Announces Dividend

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

About Cigna Group

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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