The Cigna Group (NYSE:CI) Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its position in The Cigna Group (NYSE:CI - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,540,099 shares of the health services provider's stock after selling 112,224 shares during the quarter. Invesco Ltd. owned 0.55% of The Cigna Group worth $425,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after purchasing an additional 501,320 shares during the last quarter. Geode Capital Management LLC increased its position in shares of The Cigna Group by 1.7% in 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 in the last quarter. GQG Partners LLC raised its position in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Norges Bank purchased a new position in The Cigna Group in the 4th quarter valued at about $867,785,000. Finally, Franklin Resources Inc. boosted its holdings in shares of The Cigna Group by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider's stock worth $808,323,000 after purchasing an additional 286,515 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

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Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Raymond James reiterated a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Barclays reduced their target price on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $375.00.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the business's 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 completion of the transaction, the director now directly owns 5,471 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by insiders.

The Cigna Group Trading Down 0.6 %

Shares of CI stock traded down $1.88 on Monday, hitting $328.31. 342,726 shares of the company's stock traded hands, compared to its average volume of 1,685,613. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a market capitalization of $89.85 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 0.98 and a beta of 0.51. The company's fifty day simple moving average is $312.04 and its 200 day simple moving average is $311.07.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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 previous year, the firm posted $6.79 earnings per share. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current 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 issued a dividend of $1.51 per share. This is a positive change 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 1.84%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is 49.35%.

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.