Aster Capital Management DIFC Ltd Trims Stock Position in The Cigna Group (NYSE:CI)

Aster Capital Management DIFC Ltd trimmed its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 93.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 349 shares of the health services provider's stock after selling 5,282 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in The Cigna Group were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of The Cigna Group in the fourth quarter worth $867,785,000. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group in the 4th quarter valued at $313,911,000. GQG Partners LLC raised its stake in The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after acquiring an additional 501,320 shares during the period. Finally, Amundi grew its stake in The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider's stock valued at $628,579,000 after purchasing an additional 374,865 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the 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 of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 directly 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. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

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The Cigna Group Price Performance

Shares of NYSE CI traded down $2.52 during trading on Monday, hitting $327.67. The company had a trading volume of 275,560 shares, compared to its average volume of 1,685,426. The firm has a market capitalization of $89.68 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The stock has a fifty day simple moving average of $312.04 and a two-hundred day simple moving average of $311.07. 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 Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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 in the previous year, the business earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed 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 an increase from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio is currently 49.35%.

Analysts Set New Price Targets

A number of brokerages recently commented on CI. 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 report on Thursday, March 20th. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Morgan Stanley lowered their price target 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. Finally, Oppenheimer reduced their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and a consensus price target of $375.00.

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.