Alliancebernstein L.P. Has $212.71 Million Stake in The Cigna Group (NYSE:CI)

Alliancebernstein L.P. reduced its stake in The Cigna Group (NYSE:CI - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 770,278 shares of the health services provider's stock after selling 291,557 shares during the period. Alliancebernstein L.P. owned approximately 0.28% of The Cigna Group worth $212,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. TCTC Holdings LLC acquired a new position in The Cigna Group during the fourth quarter worth $25,000. Collier Financial acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the fourth quarter valued at about $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the fourth quarter worth about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth approximately $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Up 2.1 %

Shares of CI stock traded up $6.84 during trading hours on Thursday, reaching $338.76. The company had a trading volume of 2,403,842 shares, compared to its average volume of 1,655,879. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a market cap of $92.71 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 0.98 and a beta of 0.50. The company has a 50 day moving average of $307.29 and a 200 day moving average of $313.13.

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The Cigna Group (NYSE:CI - Get Free Report) last released 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 period last year, the business posted $6.79 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.78%. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is presently 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value 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. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

CI has been the topic of several recent analyst reports. Truist Financial reduced their target price on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their target price on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, UBS Group lowered their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and an average price target of $373.25.

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.