The Cigna Group (NYSE:CI) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its position in The Cigna Group (NYSE:CI - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,317 shares of the health services provider's stock after selling 41,192 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.14% of The Cigna Group worth $108,050,000 as of its most recent filing with the Securities & Exchange Commission.

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

The Cigna Group Trading Up 2.2 %

Shares of CI traded up $7.04 during midday trading on Tuesday, hitting $331.81. 567,723 shares of the stock were exchanged, compared to its average volume of 1,689,075. The stock has a fifty day simple moving average of $316.51 and a 200 day simple moving average of $310.42. The Cigna Group has a 52-week low of $262.03 and a 52-week 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 firm has a market cap of $90.81 billion, a P/E ratio of 27.09, a P/E/G ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last announced 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company earned $6.79 EPS. On average, research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is presently 49.35%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CI. Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. Robert W. Baird reduced their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley reduced their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Two investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $373.56.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was 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. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction dated Friday, March 7th. The shares were 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 directly 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 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 quarter. 0.70% of the stock is owned by insiders.

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.