TD Private Client Wealth LLC Decreases Holdings in The Cigna Group (NYSE:CI)

TD Private Client Wealth LLC reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 30.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,297 shares of the health services provider's stock after selling 1,884 shares during the period. TD Private Client Wealth LLC's holdings in The Cigna Group were worth $1,187,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the 4th quarter worth $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. The trade was a 30.28 % 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 valued at $13,603,991. Company insiders own 0.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CI. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. 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 analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $373.25.

The Cigna Group Stock Performance

CI traded down $4.39 during trading on Tuesday, hitting $316.01. 393,726 shares of the company traded hands, compared to its average volume of 1,564,847. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock's fifty day moving average is $301.62 and its 200 day moving average is $314.45. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market cap of $86.49 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI - Get Free Report) last released 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 company earned $6.79 EPS. As a group, equities analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.91%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is currently 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.