Pinnacle Financial Partners Inc Has $219,000 Stock Holdings in The Cigna Group (NYSE:CI)

16 Nov 2024, 09:50 by Teresa Graham · The Cerbat Gem

Pinnacle Financial Partners Inc cut its position in shares of The Cigna Group (NYSE:CI – Free Report) by 22.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 631 shares of the health services provider’s stock after selling 184 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in The Cigna Group were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CI. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new stake in The Cigna Group during the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the second quarter valued at approximately $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Down 0.7 %

The Cigna Group stock opened at $321.53 on Friday. The firm has a 50-day moving average of $339.52 and a 200-day moving average of $339.91. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $89.43 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the business posted $6.77 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced 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 is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group’s payout ratio is 52.83%.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Barclays boosted their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $394.64.

Check Out Our Latest Analysis on CI

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 13.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

About The Cigna Group

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