D L Carlson Investment Group Inc. Cuts Stake in The Cigna Group (NYSE:CI)

D L Carlson Investment Group Inc. reduced its holdings in The Cigna Group (NYSE:CI - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,439 shares of the health services provider's stock after selling 814 shares during the quarter. D L Carlson Investment Group Inc.'s holdings in The Cigna Group were worth $2,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its position in shares of The Cigna Group by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider's stock valued at $4,658,000 after acquiring an additional 1,689 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in The Cigna Group during the 4th quarter worth approximately $730,000. RWA Wealth Partners LLC grew its holdings in The Cigna Group by 2.2% during the fourth quarter. RWA Wealth Partners LLC now owns 3,127 shares of the health services provider's stock valued at $863,000 after purchasing an additional 67 shares during the period. Allianz SE bought a new stake in The Cigna Group in the fourth quarter valued at approximately $6,902,000. Finally, Allstate Corp bought a new position in shares of The Cigna Group during the fourth quarter worth $2,293,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Down 2.0 %

Shares of The Cigna Group stock traded down $6.67 during trading on Friday, hitting $331.78. The company's stock had a trading volume of 1,149,772 shares, compared to its average volume of 1,654,621. The stock has a market cap of $90.80 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. 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 has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a 50-day moving average price of $308.16 and a two-hundred day moving average price of $313.31.

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The Cigna Group (NYSE:CI - Get Free Report) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm earned $6.79 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.82%. The Cigna Group's payout ratio is 49.35%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial decreased their target price on The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald lifted 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. Finally, Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, The Cigna Group has a consensus rating of "Buy" and a consensus target price of $373.25.

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.