The Cigna Group (NYSE:CI) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its position in The Cigna Group (NYSE:CI - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,737 shares of the health services provider's stock after selling 1,782 shares during the quarter. Pitcairn Co.'s holdings in The Cigna Group were worth $756,000 at the end of the most recent quarter.

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

The Cigna Group Trading Up 1.2 %

CI stock traded up $3.79 during mid-day trading on Thursday, reaching $323.78. The company had a trading volume of 735,556 shares, compared to its average volume of 1,679,694. The company has a market capitalization of $88.61 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The firm has a 50 day moving average of $310.59 and a 200 day moving average of $311.62. The Cigna Group has a 12 month low of $262.03 and a 12 month 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.

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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 EPS 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 in the previous year, the business earned $6.79 earnings per share. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.87%. 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 payout ratio is presently 49.35%.

Insider Activity

In other news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CI. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler restated an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. 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 research note on Friday, January 31st. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and a consensus target price of $374.44.

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.