The Cigna Group (NYSE:CI) Shares Sold by Assetmark Inc.

Assetmark Inc. cut its stake in The Cigna Group (NYSE:CI - Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,196 shares of the health services provider's stock after selling 13,860 shares during the quarter. Assetmark Inc. owned about 0.09% of The Cigna Group worth $70,194,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swedbank AB boosted its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after purchasing an additional 314,123 shares during the last quarter. FMR LLC lifted its holdings in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Proficio Capital Partners LLC grew its position in The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock worth $65,888,000 after acquiring an additional 237,909 shares during the period. Assenagon Asset Management S.A. increased its stake in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock worth $137,483,000 after acquiring an additional 202,161 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in The Cigna Group during the third quarter worth $69,972,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. 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. Truist Financial reduced 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 note on Tuesday, February 4th. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Sanford C. Bernstein downgraded shares of 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. Finally, Morgan Stanley decreased their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $372.31.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Up 0.3 %

The Cigna Group stock traded up $0.98 during trading on Wednesday, reaching $309.84. The stock had a trading volume of 1,313,699 shares, compared to its average volume of 1,843,769. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business has a 50 day moving average price of $291.31 and a 200 day moving average price of $318.05. 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 stock has a market cap of $86.18 billion, a PE ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the company posted $6.79 EPS. On average, analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

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

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.