Hancock Whitney Corp Lowers Position in The Cigna Group (NYSE:CI)

Hancock Whitney Corp reduced its holdings in The Cigna Group (NYSE:CI - Free Report) by 18.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,541 shares of the health services provider's stock after selling 827 shares during the quarter. Hancock Whitney Corp's holdings in The Cigna Group were worth $978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Kesler Norman & Wride LLC increased its holdings in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after buying an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its position in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after acquiring an additional 36 shares in the last quarter. Meridian Wealth Management LLC increased its stake in The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after acquiring an additional 37 shares during the last quarter. Mindset Wealth Management LLC raised its position in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after purchasing an additional 37 shares during the period. Finally, Jacobi Capital Management LLC lifted its stake in shares of The Cigna Group by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock valued at $483,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction 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 sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company's stock.

The Cigna Group Trading Down 0.0 %

NYSE CI opened at $335.60 on Friday. The firm has a market cap of $91.85 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 company has a 50 day moving average price of $319.82 and a 200 day moving average price of $310.69.

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 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 period in the previous year, the business posted $6.79 EPS. As a group, sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The Cigna Group's payout ratio is 49.35%.

Analyst Ratings Changes

Several analysts recently weighed in on CI shares. Guggenheim began coverage on The Cigna Group in a research report on Wednesday, April 9th. They issued a "buy" rating and a $384.00 price target for the company. Raymond James restated a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group 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. Robert W. Baird dropped their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald raised their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of "Buy" and an average price target of $373.56.

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.

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