Dorsey & Whitney Trust CO LLC Reduces Holdings in The Cigna Group (NYSE:CI)

Dorsey & Whitney Trust CO LLC reduced its stake in The Cigna Group (NYSE:CI - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,833 shares of the health services provider's stock after selling 1,028 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in The Cigna Group were worth $782,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CI. Sterling Financial Group Inc. acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $4,367,000. Principal Financial Group Inc. lifted its holdings in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock worth $112,216,000 after buying an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after buying an additional 858 shares during the period. Valley Wealth Managers Inc. grew its stake in shares of The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after acquiring an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its position in shares of The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock worth $5,444,000 after acquiring an additional 3,466 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

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The Cigna Group Stock Performance

CI traded down $7.93 on Wednesday, reaching $309.94. The company had a trading volume of 328,249 shares, compared to its average volume of 1,836,223. The stock has a 50-day moving average price of $294.70 and a 200-day moving average price of $317.14. 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 Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market capitalization of $84.82 billion, a PE ratio of 25.35, a P/E/G ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI - Get Free Report) last announced its 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 quarter last year, the firm earned $6.79 earnings per share. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is 49.35%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CI shares. Oppenheimer decreased their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. UBS Group decreased their price objective on 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. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has an average rating of "Buy" and a consensus target price of $372.31.

Insiders Place Their Bets

In other news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares in the company, 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 SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated 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 directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,375 shares of company stock worth $12,866,600. 0.60% of the stock is owned by insiders.

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.