Ontario Teachers Pension Plan Board Decreases Stake in The Cigna Group (NYSE:CI)

Ontario Teachers Pension Plan Board cut its holdings in The Cigna Group (NYSE:CI - Free Report) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,049 shares of the health services provider's stock after selling 3,438 shares during the period. Ontario Teachers Pension Plan Board's holdings in The Cigna Group were worth $1,394,000 as of its most recent SEC filing.

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

The Cigna Group Stock Down 1.6 %

The Cigna Group stock traded down $5.17 during midday trading on Monday, reaching $324.96. The company's stock had a trading volume of 283,762 shares, compared to its average volume of 1,688,817. 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 stock has a market capitalization of $88.93 billion, a P/E ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.51. The stock's 50-day simple moving average is $315.87 and its 200-day simple moving average is $310.53.

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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 EPS. On average, sell-side analysts expect 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. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is 49.35%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CI. StockNews.com upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Piper Sandler reaffirmed an "overweight" rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Stephens lowered their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Oppenheimer cut their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Two equities 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 data from MarketBeat, The Cigna Group presently has an average rating of "Buy" and a consensus target price of $373.56.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the 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 in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% 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.