Cigna Group (NYSE:CI) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Cigna Group by 59.8%, holding 13,984 shares valued at $4.60 million.
• Institutional investors collectively own 86.99% of Cigna Group's stock, with several firms increasing their positions during the 1st quarter.
• Cigna Group is set to pay a quarterly dividend of $1.51 on September 18th, yielding approximately 2.07% annually.

Pacer Advisors Inc. lessened its holdings in Cigna Group (NYSE:CI - Free Report) by 59.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,984 shares of the health services provider's stock after selling 20,789 shares during the period. Pacer Advisors Inc.'s holdings in Cigna Group were worth $4,601,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CI. Putney Financial Group LLC acquired a new position in Cigna Group during the 4th quarter worth approximately $36,000. Transce3nd LLC purchased a new stake in shares of Cigna Group during the 4th quarter worth $38,000. Richardson Financial Services Inc. acquired a new position in shares of Cigna Group during the first quarter worth $38,000. Wayfinding Financial LLC purchased a new position in Cigna Group in the first quarter valued at $40,000. Finally, Ameriflex Group Inc. purchased a new position in Cigna Group in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Price Performance

CI stock traded down $8.34 on Friday, reaching $259.04. 1,618,193 shares of the company's stock were exchanged, compared to its average volume of 1,833,017. Cigna Group has a twelve month low of $258.23 and a twelve month 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 0.65. The stock has a fifty day moving average of $309.98 and a 200-day moving average of $312.08. The firm has a market cap of $69.20 billion, a PE ratio of 14.35, a P/E/G ratio of 0.90 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same period in the prior year, the company posted $6.72 EPS. The business's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.3%. Cigna Group's payout ratio is currently 33.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CI shares. Barclays lowered their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research report on Friday. Piper Sandler upped their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Morgan Stanley raised their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Cowen restated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Finally, TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $378.67.

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.