The Cigna Group (NYSE:CI) Shares Sold by Prudential PLC

Prudential PLC decreased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 48.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,933 shares of the health services provider's stock after selling 21,489 shares during the period. Prudential PLC's holdings in The Cigna Group were worth $6,333,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. TCTC Holdings LLC bought a new position in The Cigna Group in the 4th quarter worth about $25,000. Collier Financial bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Piper Sandler restated an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $374.44.

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The Cigna Group Stock Performance

Shares of CI stock traded up $3.27 during mid-day trading on Thursday, reaching $323.26. The stock had a trading volume of 735,556 shares, compared to its average volume of 1,679,707. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market cap of $88.47 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 0.98 and a beta of 0.51. 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 business's fifty day moving average is $310.59 and its 200-day moving average is $311.62.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly 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 net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the company earned $6.79 earnings per share. On average, research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.87%. The Cigna Group's dividend payout ratio is presently 49.35%.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

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.