Martingale Asset Management L P Has $22.87 Million Stake in The Cigna Group (NYSE:CI)

Martingale Asset Management L P trimmed its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,834 shares of the health services provider's stock after selling 4,230 shares during the period. Martingale Asset Management L P's holdings in The Cigna Group were worth $22,874,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth $25,000. Collier Financial purchased a new position in The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI traded down $1.83 during trading hours on Monday, reaching $328.36. 377,799 shares of the company traded hands, compared to its average volume of 1,685,786. The stock's fifty day moving average is $312.04 and its 200 day moving average is $311.07. 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 1-year low of $262.03 and a 1-year high of $370.83. The stock has a market cap of $89.86 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

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The Cigna Group (NYSE:CI - Get Free Report) last posted 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 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 earnings per share. Equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the firm'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 $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred 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 directly owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CI shares. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Truist Financial boosted their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Cantor Fitzgerald lifted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, Sanford C. Bernstein lowered The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. 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. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $375.00.

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.