Trexquant Investment LP Sells 8,039 Shares of The Cigna Group (NYSE:CI)

Trexquant Investment LP cut its position in The Cigna Group (NYSE:CI - Free Report) by 32.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,633 shares of the health services provider's stock after selling 8,039 shares during the quarter. Trexquant Investment LP's holdings in The Cigna Group were worth $4,593,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hudson Edge Investment Partners Inc. increased its holdings in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after purchasing an additional 36 shares during the period. Meridian Wealth Management LLC increased its stake in shares of The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock valued at $1,013,000 after buying an additional 37 shares during the period. Mindset Wealth Management LLC raised its position in shares of The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock worth $406,000 after acquiring an additional 37 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in shares of The Cigna Group by 2.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock worth $483,000 after acquiring an additional 38 shares during the period. Finally, Griffin Asset Management Inc. boosted its holdings in The Cigna Group by 0.6% in the fourth quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider's stock valued at $1,869,000 after acquiring an additional 39 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. 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 three months. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CI. Guggenheim initiated coverage on shares of The Cigna Group in a report on Wednesday. They set a "buy" rating and a $384.00 price target for the company. Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Piper Sandler reiterated an "overweight" rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Raymond James reiterated a "strong-buy" rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $374.44.

The Cigna Group Stock Performance

Shares of CI stock traded up $0.58 during trading on Thursday, reaching $320.57. 638,515 shares of the company's stock traded hands, compared to its average volume of 1,679,221. The firm's 50-day moving average is $310.59 and its 200 day moving average is $311.62. The company has a market capitalization of $87.73 billion, a P/E ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.51. 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 posted its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the business earned $6.79 earnings per share. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio is 49.35%.

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.