Groupama Asset Managment Trims Stock Position in The Cigna Group (NYSE:CI)

Groupama Asset Managment lowered its stake in The Cigna Group (NYSE:CI - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,522 shares of the health services provider's stock after selling 7,280 shares during the period. Groupama Asset Managment's holdings in The Cigna Group were worth $2,345,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CI. May Hill Capital LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at approximately $248,000. Geode Capital Management LLC lifted its position in The Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after buying an additional 101,737 shares during the period. Nemes Rush Group LLC lifted its position in The Cigna Group by 19.6% during the fourth quarter. Nemes Rush Group LLC now owns 3,883 shares of the health services provider's stock valued at $1,072,000 after buying an additional 637 shares during the period. National Bank of Canada FI boosted its holdings in shares of The Cigna Group by 26.6% during the 4th quarter. National Bank of Canada FI now owns 264,097 shares of the health services provider's stock valued at $72,931,000 after buying an additional 55,522 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its position in shares of The Cigna Group by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 6,114 shares of the health services provider's stock worth $1,805,000 after buying an additional 49 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CI shares. Raymond James reissued a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Oppenheimer dropped their price target on 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. Morgan Stanley reduced their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald boosted their target price on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Stephens reduced their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $373.25.

The Cigna Group Price Performance

CI traded up $6.84 during trading hours on Thursday, hitting $338.76. The company's stock had a trading volume of 2,403,842 shares, compared to its average volume of 1,656,231. The stock has a market cap of $92.71 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 0.98 and a beta of 0.50. The business's 50-day moving average price is $308.16 and its 200-day moving average price is $313.31. 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 posted 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 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. Sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.78%. The Cigna Group's dividend payout ratio is 49.35%.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction dated 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 owns 5,471 shares in the company, valued at $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. In the last 90 days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Company 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.