Royal London Asset Management Ltd. Cuts Holdings in The Cigna Group (NYSE:CI)

Royal London Asset Management Ltd. cut its holdings in The Cigna Group (NYSE:CI - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,063 shares of the health services provider's stock after selling 1,648 shares during the period. Royal London Asset Management Ltd.'s holdings in The Cigna Group were worth $32,878,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Swedbank AB boosted its stake in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider's stock worth $197,569,000 after buying an additional 119,681 shares during the last quarter. Prospera Financial Services Inc raised its holdings in The Cigna Group by 9.2% during the third quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider's stock worth $480,000 after acquiring an additional 116 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in The Cigna Group by 10.9% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,595 shares of the health services provider's stock valued at $553,000 after purchasing an additional 157 shares during the last quarter. Avior Wealth Management LLC grew its stake in The Cigna Group by 121.6% in the third quarter. Avior Wealth Management LLC now owns 1,157 shares of the health services provider's stock valued at $401,000 after purchasing an additional 635 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter worth approximately $37,000. Institutional investors own 86.99% of the company's stock.

Remove Ads

Insider Transactions at The Cigna Group

In other The Cigna Group 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 value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the company's 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 transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $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 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CI shares. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Barclays lowered their price objective on shares of 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. Raymond James reiterated a "strong-buy" rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Finally, Piper Sandler restated an "overweight" rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $373.25.

The Cigna Group Trading Down 1.2 %

Shares of The Cigna Group stock traded down $3.76 during trading on Tuesday, hitting $316.64. The company's stock had a trading volume of 1,172,135 shares, compared to its average volume of 1,564,847. The stock has a market cap of $86.66 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a 50-day moving average price of $301.62 and a two-hundred day moving average price of $314.45. 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 released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 prior year, the business posted $6.79 earnings per share. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS 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 issued a dividend of $1.51 per share. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

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.