Flputnam Investment Management Co. Cuts Holdings in The Cigna Group (NYSE:CI)

Flputnam Investment Management Co. lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 58.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,917 shares of the health services provider's stock after selling 22,051 shares during the quarter. Flputnam Investment Management Co.'s holdings in The Cigna Group were worth $4,395,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CI. Collier Financial acquired a new position in shares of The Cigna Group in the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at $34,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the third quarter worth $37,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the fourth quarter worth $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter valued at $45,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CI. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Raymond James reissued a "strong-buy" rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Barclays decreased their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given 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 $372.31.

Insider Transactions at The Cigna Group

In other The Cigna Group news, 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 sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

The Cigna Group Stock Up 0.3 %

CI traded up $0.98 during mid-day trading on Wednesday, reaching $309.84. 1,313,699 shares of the stock were exchanged, compared to its average volume of 1,843,769. The company has a 50 day moving average price of $291.31 and a two-hundred day moving average price of $318.05. The stock has a market capitalization of $86.18 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the company earned $6.79 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is 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 dividend yield of 1.95%. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

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.