GM Advisory Group LLC Lowers Stock Holdings in The Cigna Group (NYSE:CI)

GM Advisory Group LLC reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,405 shares of the health services provider's stock after selling 1,211 shares during the period. GM Advisory Group LLC's holdings in The Cigna Group were worth $2,597,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vinva Investment Management Ltd lifted its position in shares of The Cigna Group by 19.0% during the fourth quarter. Vinva Investment Management Ltd now owns 13,974 shares of the health services provider's stock valued at $3,845,000 after purchasing an additional 2,228 shares in the last quarter. Platinum Investment Management Ltd. increased its stake in The Cigna Group by 15.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 316 shares of the health services provider's stock valued at $87,000 after buying an additional 43 shares during the last quarter. Xponance Inc. lifted its position in shares of The Cigna Group by 1.4% during the 4th quarter. Xponance Inc. now owns 44,583 shares of the health services provider's stock worth $12,311,000 after buying an additional 612 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $7,201,000. Finally, Horizon Investments LLC grew its holdings in shares of The Cigna Group by 2.0% in the fourth quarter. Horizon Investments LLC now owns 4,850 shares of the health services provider's stock valued at $1,339,000 after acquiring an additional 93 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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The Cigna Group Stock Performance

Shares of NYSE:CI traded down $4.61 during trading on Friday, hitting $316.78. 3,552,779 shares of the company were exchanged, compared to its average volume of 1,566,129. 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 of $300.83 and a 200 day moving average of $315.05. 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 company has a market cap of $86.70 billion, a PE ratio of 25.88, a P/E/G ratio of 0.98 and a beta of 0.53.

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 period in the previous year, the firm posted $6.79 EPS. As a group, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current 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 issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. 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. The Cigna Group's dividend payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CI shares. Morgan Stanley dropped their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Oppenheimer lowered their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Finally, Cantor Fitzgerald increased their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $373.25.

Insiders Place Their Bets

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last three months. 0.60% of the stock is currently owned by corporate 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.