Fmr LLC Trims Stock Position in The Cigna Group (NYSE:CI)

FMR LLC lowered its stake in The Cigna Group (NYSE:CI - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,465,481 shares of the health services provider's stock after selling 1,764,916 shares during the quarter. FMR LLC owned 4.48% of The Cigna Group worth $3,442,218,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in shares of The Cigna Group during the third quarter valued at about $730,000. Garden State Investment Advisory Services LLC acquired a new position in The Cigna Group during the 3rd quarter worth approximately $444,000. Hilltop Holdings Inc. boosted its holdings in The Cigna Group by 70.5% in the third quarter. Hilltop Holdings Inc. now owns 1,173 shares of the health services provider's stock worth $406,000 after acquiring an additional 485 shares in the last quarter. Two Sigma Advisers LP grew its stake in The Cigna Group by 995.9% in the third quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider's stock valued at $74,796,000 after acquiring an additional 196,200 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of The Cigna Group by 23.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 43,232 shares of the health services provider's stock valued at $13,803,000 after acquiring an additional 8,343 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CI shares. Barclays reduced 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 report on Friday, January 31st. Truist Financial lifted their price objective on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Cantor Fitzgerald upped their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Mizuho increased their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $375.00.

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The Cigna Group Stock Performance

CI traded up $4.17 during trading on Friday, hitting $331.44. 678,315 shares of the company traded hands, compared to its average volume of 1,683,430. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock's fifty day moving average is $311.28 and its 200 day moving average is $311.44. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market cap of $90.71 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter in the prior year, the company earned $6.79 EPS. As a group, equities analysts predict 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. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date 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 dividend yield of 1.82%. The Cigna Group's payout ratio is presently 49.35%.

Insider Activity

In related news, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company's stock, valued at $1,697,924.85. This represents 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 in the last 90 days. Insiders own 0.70% of the company's stock.

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.