The Cigna Group (NYSE:CI) Holdings Reduced by Qtron Investments LLC

Qtron Investments LLC lessened its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,554 shares of the health services provider's stock after selling 1,115 shares during the quarter. Qtron Investments LLC's holdings in The Cigna Group were worth $705,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Garden State Investment Advisory Services LLC purchased a new position in The Cigna Group in the third quarter valued at $444,000. Sunbelt Securities Inc. boosted its holdings in shares of The Cigna Group by 24.9% in the third quarter. Sunbelt Securities Inc. now owns 216 shares of the health services provider's stock valued at $75,000 after acquiring an additional 43 shares during the period. Advisory Resource Group grew its position in The Cigna Group by 2.0% during the 3rd quarter. Advisory Resource Group now owns 13,163 shares of the health services provider's stock worth $4,560,000 after purchasing an additional 263 shares during the last quarter. Virtu Financial LLC increased its position in The Cigna Group by 39.6% in the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider's stock valued at $5,949,000 after acquiring an additional 4,870 shares during the period. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in shares of The Cigna Group by 7.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider's stock worth $7,003,000 after purchasing an additional 1,490 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CI. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Piper Sandler restated an "overweight" rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Robert W. Baird reduced their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $373.56.

The Cigna Group Stock Up 0.2 %

NYSE:CI traded up $0.53 during trading hours on Friday, hitting $329.97. The stock had a trading volume of 2,847,268 shares, compared to its average volume of 1,692,510. The company has a market cap of $90.30 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The business has a 50 day simple moving average of $315.18 and a two-hundred day simple moving average of $311.07. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the company posted $6.79 EPS. Analysts predict 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 dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Insider Activity at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

About The Cigna Group

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.