Legal & General Group Plc decreased its position in shares of The Cigna Group (NYSE:CI - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,990,381 shares of the health services provider's stock after selling 620,142 shares during the period. Legal & General Group Plc owned 0.72% of The Cigna Group worth $549,624,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CI. Garden State Investment Advisory Services LLC acquired a new position in The Cigna Group during the 3rd quarter valued at $444,000. EP Wealth Advisors LLC raised its position in shares of The Cigna Group by 98.1% during the third quarter. EP Wealth Advisors LLC now owns 10,767 shares of the health services provider's stock valued at $3,730,000 after buying an additional 5,333 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of The Cigna Group by 6.3% in the third quarter. MML Investors Services LLC now owns 29,633 shares of the health services provider's stock valued at $10,266,000 after buying an additional 1,760 shares during the period. Nomura Asset Management Co. Ltd. grew its position in The Cigna Group by 6.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 105,479 shares of the health services provider's stock worth $36,542,000 after buying an additional 6,585 shares in the last quarter. Finally, Roffman Miller Associates Inc. PA increased its stake in The Cigna Group by 2,536.0% during the third quarter. Roffman Miller Associates Inc. PA now owns 45,366 shares of the health services provider's stock valued at $15,717,000 after acquiring an additional 43,645 shares during the period. 86.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on CI. Morgan Stanley decreased their price objective 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. Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Guggenheim started coverage on shares of The Cigna Group in a research report on Wednesday. They set a "buy" rating and a $384.00 target price on the stock. Finally, Raymond James reissued a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $375.00.
Check Out Our Latest Report on The Cigna Group
Insider Buying and Selling at The Cigna Group
In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on 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 sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.
The Cigna Group Price Performance
Shares of CI stock traded up $2.25 during trading hours on Friday, hitting $329.52. 1,727,459 shares of the company's stock were exchanged, compared to its average volume of 1,690,878. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market cap of $90.18 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. 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 stock's 50-day moving average is $312.04 and its 200-day moving average is $311.07.
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 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 business posted $6.79 EPS. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Increases Dividend
The company 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 an increase from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.83%. The Cigna Group's dividend payout ratio is currently 49.35%.
About The Cigna Group
(
Free Report)
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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