AlphaQuest LLC lessened its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 75.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,350 shares of the health services provider's stock after selling 4,179 shares during the quarter. AlphaQuest LLC's holdings in The Cigna Group were worth $373,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $313,911,000. Amundi grew its position in The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider's stock valued at $628,579,000 after acquiring an additional 374,865 shares in the last quarter. Swedbank AB grew its position in The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after acquiring an additional 314,123 shares in the last quarter. FMR LLC grew its position in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock valued at $65,888,000 after acquiring an additional 237,909 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.
Insider Buying and Selling at The Cigna Group
In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 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 transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,375 shares of company stock worth $12,866,600. 0.60% of the stock is owned by insiders.
The Cigna Group Stock Performance
Shares of CI opened at $311.61 on Friday. The business's fifty day moving average price is $296.14 and its 200 day moving average price is $317.06. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market capitalization of $85.28 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 period in the prior year, the firm earned $6.79 earnings per share. Equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Cantor Fitzgerald lowered their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Piper Sandler reissued an "overweight" rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Two 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's stock. According to data from MarketBeat, The Cigna Group has an average rating of "Buy" and a consensus target price of $372.31.
Check Out Our Latest Analysis on The Cigna Group
About The Cigna Group
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cigna Group (NYSE:CI - Free Report).
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