Envestnet Portfolio Solutions Inc. Sells 871 Shares of The Cigna Group (NYSE:CI)

Envestnet Portfolio Solutions Inc. reduced its stake in The Cigna Group (NYSE:CI - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,759 shares of the health services provider's stock after selling 871 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in The Cigna Group were worth $6,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CI. Collier Financial acquired a new position in The Cigna Group in the fourth quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the 3rd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group in the 4th quarter valued at $53,000. 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 firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company's stock, 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. Over the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.60% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Cantor Fitzgerald raised 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. UBS Group dropped their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. StockNews.com raised shares of The Cigna Group from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $373.25.

The Cigna Group Trading Down 1.4 %

Shares of CI stock traded down $4.61 on Friday, reaching $316.78. The company had a trading volume of 3,552,779 shares, compared to its average volume of 1,564,478. The stock has a market cap of $86.70 billion, a PE ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53. The company has a 50-day moving average of $300.07 and a 200-day moving average of $315.72. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. 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 earnings results on Thursday, January 30th. The health services provider reported $6.64 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 in the prior year, the company posted $6.79 earnings per share. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's payout ratio is currently 49.35%.

About The Cigna Group

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.