Simplify Asset Management Inc. Has $3.47 Million Stake in The Cigna Group (NYSE:CI)

Simplify Asset Management Inc. cut its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 40.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,551 shares of the health services provider's stock after selling 8,382 shares during the quarter. Simplify Asset Management Inc.'s holdings in The Cigna Group were worth $3,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. English Capital Management LLC raised its stake in The Cigna Group by 6.2% during the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider's stock valued at $5,685,000 after buying an additional 1,202 shares in the last quarter. Focused Investors LLC grew its position in The Cigna Group by 8.8% in the 4th quarter. Focused Investors LLC now owns 587,450 shares of the health services provider's stock worth $162,218,000 after purchasing an additional 47,550 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $51,589,000. AXQ Capital LP acquired a new stake in The Cigna Group in the fourth quarter worth about $422,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of The Cigna Group by 4.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 2,390 shares of the health services provider's stock valued at $660,000 after acquiring an additional 100 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CI has been the topic of a number of research reports. Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Raymond James restated a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein downgraded shares of 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. Finally, Piper Sandler restated an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $373.25.

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The Cigna Group Stock Performance

Shares of NYSE CI traded down $3.76 during trading hours on Tuesday, reaching $316.64. The stock had a trading volume of 1,052,535 shares, compared to its average volume of 1,815,249. The company has a market cap of $86.66 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 0.98 and a beta of 0.53. The business's fifty day moving average is $301.62 and its two-hundred day moving average is $314.45. The Cigna Group has a twelve month low of $262.03 and a twelve 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.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the company earned $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is owned by insiders.

The Cigna Group 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.