LSV Asset Management Trims Stake in The Cigna Group (NYSE:CI)

LSV Asset Management lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 598,710 shares of the health services provider's stock after selling 26,750 shares during the period. LSV Asset Management owned approximately 0.22% of The Cigna Group worth $165,328,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Capital Fund Management S.A. bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $18,438,000. CenterBook Partners LP raised its holdings in The Cigna Group by 1,223.3% during the 4th quarter. CenterBook Partners LP now owns 32,368 shares of the health services provider's stock valued at $8,938,000 after buying an additional 29,922 shares during the period. APG Asset Management US Inc. lifted its position in The Cigna Group by 9.0% in the fourth quarter. APG Asset Management US Inc. now owns 5,777 shares of the health services provider's stock worth $1,595,000 after buying an additional 476 shares during the last quarter. APG Asset Management N.V. boosted its stake in The Cigna Group by 229.5% during the fourth quarter. APG Asset Management N.V. now owns 218,018 shares of the health services provider's stock worth $58,140,000 after buying an additional 151,854 shares during the period. Finally, Advisory Services Network LLC increased its position in The Cigna Group by 22.6% during the fourth quarter. Advisory Services Network LLC now owns 4,420 shares of the health services provider's stock valued at $1,220,000 after acquiring an additional 816 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday. Truist Financial upped their target price on The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a research note on Friday. Guggenheim assumed coverage on The Cigna Group in a research note on Wednesday, April 9th. They set a "buy" rating and a $384.00 price target for the company. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, StockNews.com upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $373.56.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company's stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Stock Down 0.3 %

The Cigna Group stock traded down $0.83 during trading hours on Tuesday, reaching $328.37. The stock had a trading volume of 344,197 shares, compared to its average volume of 1,684,603. The company has a market cap of $89.87 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.98 and a beta of 0.51. The business's 50 day moving average price is $312.75 and its 200-day moving average price is $310.94. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 Cigna Group (NYSE:CI - Get Free Report) last announced its 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 quarter last year, the company earned $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost 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 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.