Mutual of America Capital Management LLC Sells 1,362 Shares of The Cigna Group (NYSE:CI)

Mutual of America Capital Management LLC reduced its stake in The Cigna Group (NYSE:CI - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,597 shares of the health services provider's stock after selling 1,362 shares during the period. Mutual of America Capital Management LLC's holdings in The Cigna Group were worth $11,210,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CI. Bruni J V & Co. Co. lifted its holdings in shares of The Cigna Group by 0.9% in the fourth quarter. Bruni J V & Co. Co. now owns 108,155 shares of the health services provider's stock worth $29,866,000 after buying an additional 916 shares in the last quarter. Altrius Capital Management Inc lifted its position in The Cigna Group by 6.3% during the fourth quarter. Altrius Capital Management Inc now owns 14,416 shares of the health services provider's stock valued at $3,981,000 after purchasing an additional 856 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in The Cigna Group by 30.2% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,800 shares of the health services provider's stock valued at $773,000 after acquiring an additional 650 shares during the last quarter. Linscomb Wealth Inc. raised its holdings in shares of The Cigna Group by 2.9% during the 4th quarter. Linscomb Wealth Inc. now owns 10,811 shares of the health services provider's stock valued at $2,985,000 after buying an additional 303 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock worth $65,888,000 after purchasing an additional 237,909 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $0.98 during trading hours on Wednesday, hitting $309.84. 1,313,699 shares of the company were exchanged, compared to its average volume of 1,843,769. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business has a 50-day moving average of $291.31 and a 200-day moving average of $318.05. The stock has a market capitalization of $86.18 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 earnings per share. As a group, analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is currently 49.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CI shares. Oppenheimer reduced their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a research note on Thursday, February 6th. Raymond James reiterated a "strong-buy" rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group presently has an average rating of "Buy" and an average target price of $372.31.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

About The Cigna Group

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.