The Cigna Group (NYSE:CI) Stock Holdings Trimmed by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. decreased its holdings in The Cigna Group (NYSE:CI - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 165,604 shares of the health services provider's stock after selling 91,984 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.06% of The Cigna Group worth $45,730,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CI. T. Rowe Price Investment Management Inc. acquired a new position in The Cigna Group during the 4th quarter worth approximately $724,517,000. Long Focus Capital Management LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth $4,888,000. Alta Advisers Ltd increased its holdings in The Cigna Group by 15.5% in the fourth quarter. Alta Advisers Ltd now owns 924 shares of the health services provider's stock valued at $255,000 after buying an additional 124 shares during the last quarter. IHT Wealth Management LLC lifted its stake in The Cigna Group by 28.1% during the fourth quarter. IHT Wealth Management LLC now owns 1,491 shares of the health services provider's stock worth $412,000 after purchasing an additional 327 shares during the last quarter. Finally, J. Safra Sarasin Holding AG boosted its holdings in shares of The Cigna Group by 262.1% in the 4th quarter. J. Safra Sarasin Holding AG now owns 16,102 shares of the health services provider's stock valued at $4,446,000 after buying an additional 11,655 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CI. Robert W. Baird cut their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Raymond James reissued a "strong-buy" rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Mizuho raised their price target on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Oppenheimer decreased their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $373.56.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Company insiders own 0.70% of the company's stock.

The Cigna Group Price Performance

Shares of CI stock traded down $0.27 during trading hours on Monday, hitting $335.09. The company's stock had a trading volume of 1,347,165 shares, compared to its average volume of 1,702,241. The business has a fifty day moving average of $319.82 and a 200-day moving average of $310.16. The stock has a market cap of $91.71 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 0.98 and a beta of 0.51. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the business posted $6.79 earnings per share. As a group, equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.80%. The Cigna Group's payout ratio is currently 49.35%.

The Cigna Group 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.