Aviva PLC Trims Holdings in The Cigna Group (NYSE:CI)

Aviva PLC trimmed its stake in The Cigna Group (NYSE:CI - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,354 shares of the health services provider's stock after selling 65,269 shares during the quarter. Aviva PLC owned approximately 0.06% of The Cigna Group worth $46,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kesler Norman & Wride LLC boosted its position in The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. boosted its holdings in The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC grew its stake in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock valued at $1,013,000 after buying an additional 37 shares in the last quarter. Mindset Wealth Management LLC raised its holdings in The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after acquiring an additional 37 shares during the period. Finally, Jacobi Capital Management LLC lifted its position in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock worth $483,000 after acquiring an additional 38 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

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The Cigna Group Trading Up 0.4 %

Shares of CI stock traded up $1.43 on Friday, hitting $328.70. 547,601 shares of the company's stock traded hands, compared to its average volume of 1,682,914. The stock has a market capitalization of $89.96 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 0.98 and a beta of 0.51. The company's fifty day simple moving average is $311.28 and its 200 day simple moving average is $311.44. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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 EPS. Equities analysts forecast 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. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend 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%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm'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 in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % 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 valued at $13,603,991 over the last ninety days. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CI shares. UBS Group reduced their price target on 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. Stephens lowered 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 report on Friday, January 31st. Morgan Stanley lowered their target price on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company reduced 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. Finally, Truist Financial upped their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a report on Friday. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of "Buy" and an average price target of $375.00.

The Cigna Group 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.