iA Global Asset Management Inc. Cuts Stock Holdings in The Cigna Group (NYSE:CI)

iA Global Asset Management Inc. cut its stake in The Cigna Group (NYSE:CI - Free Report) by 80.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,753 shares of the health services provider's stock after selling 11,037 shares during the period. iA Global Asset Management Inc.'s holdings in The Cigna Group were worth $760,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Sterling Financial Group Inc. purchased a new position in The Cigna Group during the 4th quarter valued at about $4,367,000. Principal Financial Group Inc. lifted its holdings in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in shares of The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after buying an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock worth $5,444,000 after buying an additional 3,466 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction dated Friday, March 7th. The stock was 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 owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CI. Truist Financial dropped their target price on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Morgan Stanley reduced their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, UBS Group reduced their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $373.25.

The Cigna Group Trading Down 1.4 %

CI traded down $4.39 on Tuesday, hitting $316.01. The company had a trading volume of 393,726 shares, compared to its average volume of 1,564,847. The Cigna Group has a 12-month low of $262.03 and a 12-month 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 business's fifty day simple moving average is $301.62 and its 200 day simple moving average is $314.45. The company has a market cap of $86.49 billion, a PE ratio of 25.79, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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. Equities research analysts expect 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 was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio is currently 49.35%.

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.