Adams Diversified Equity Fund Inc. Reduces Holdings in The Cigna Group (NYSE:CI)

Adams Diversified Equity Fund Inc. lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,900 shares of the health services provider's stock after selling 4,700 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in The Cigna Group were worth $20,407,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CI. TCTC Holdings LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth $34,000. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Performance

NYSE:CI traded down $3.76 during midday trading on Tuesday, reaching $316.64. The stock had a trading volume of 1,172,135 shares, compared to its average volume of 1,564,847. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $86.66 billion, a P/E ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53. The firm has a fifty day simple moving average of $301.62 and a two-hundred day simple moving average of $314.45. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

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The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company posted $6.79 earnings per share. On average, equities analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CI. Raymond James reaffirmed 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. Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Finally, UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and a consensus target price of $373.25.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

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.