The Cigna Group (NYSE:CI) Position Trimmed by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in The Cigna Group (NYSE:CI - Free Report) by 27.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,744,197 shares of the health services provider's stock after selling 655,969 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.63% of The Cigna Group worth $481,643,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sterling Financial Group Inc. acquired a new stake in shares of The Cigna Group during the fourth quarter valued at $4,367,000. Principal Financial Group Inc. lifted its holdings in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after purchasing an additional 858 shares during the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after buying an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after buying an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of the 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 transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last three months. 0.70% of the stock is owned by insiders.

The Cigna Group Trading Up 2.8 %

Shares of CI stock traded up $9.26 during mid-day trading on Thursday, reaching $341.18. The company's stock had a trading volume of 964,378 shares, compared to its average volume of 1,650,412. 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 firm has a market capitalization of $93.37 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The company's 50 day simple moving average is $307.29 and its 200-day simple moving average is $313.13. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 last year, the company posted $6.79 earnings per share. On average, research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.77%. The Cigna Group's payout ratio is 49.35%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays decreased their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Cantor Fitzgerald upped 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. StockNews.com upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 29th. Finally, UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price 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.