Meeder Asset Management Inc. Sells 4,720 Shares of The Cigna Group (NYSE:CI)

Meeder Asset Management Inc. cut its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 40.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,080 shares of the health services provider's stock after selling 4,720 shares during the period. Meeder Asset Management Inc.'s holdings in The Cigna Group were worth $1,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider's stock valued at $2,021,563,000 after buying an additional 22,408 shares in the last quarter. GQG Partners LLC lifted its position in shares of The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after acquiring an additional 737,099 shares in the last quarter. Norges Bank acquired a new position in The Cigna Group in the 4th quarter worth approximately $867,785,000. Amundi lifted its holdings in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider's stock valued at $628,579,000 after purchasing an additional 374,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of The Cigna Group by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider's stock worth $546,138,000 after buying an additional 64,138 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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The Cigna Group Stock Performance

CI traded down $6.83 during midday trading on Friday, reaching $331.62. The company's stock had a trading volume of 1,312,949 shares, compared to its average volume of 1,655,236. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $308.16 and a 200 day simple moving average of $313.31. The stock has a market cap of $90.76 billion, a P/E ratio of 26.98, a PEG ratio of 0.98 and a beta of 0.50. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

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 (EPS) 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 business posted $6.79 EPS. Research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared 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. This represents a $6.04 annualized dividend and a yield of 1.82%. 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. The Cigna Group's payout ratio is currently 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CI. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Wells Fargo & Company cut their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $373.25.

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.