Victory Capital Management Inc. Has $171.63 Million Position in The Cigna Group (NYSE:CI)

Victory Capital Management Inc. cut its position in shares of The Cigna Group (NYSE:CI) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 495,403 shares of the health services provider’s stock after selling 9,603 shares during the period. Victory Capital Management Inc. owned 0.18% of The Cigna Group worth $171,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the 1st quarter valued at $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC boosted its holdings in shares of The Cigna Group by 2,500.0% during 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 period. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the 2nd quarter valued at about $66,000. 86.99% of the stock is owned by institutional investors.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction 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 sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Barclays lifted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target 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. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $340.06 on Wednesday. The firm has a market cap of $94.59 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The firm’s fifty day moving average is $341.35 and its 200-day moving average is $340.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 company had revenue of $63.70 billion during 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 firm’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $6.77 earnings per share. Sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

The 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.