Virtu Financial LLC reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 35.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,083 shares of the health services provider's stock after selling 6,090 shares during the quarter. Virtu Financial LLC's holdings in The Cigna Group were worth $3,060,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. Quantbot Technologies LP increased its position in shares of The Cigna Group by 36.7% during the fourth quarter. Quantbot Technologies LP now owns 19,128 shares of the health services provider's stock worth $5,282,000 after purchasing an additional 5,137 shares in the last quarter. Millstone Evans Group LLC acquired a new position in The Cigna Group during the fourth quarter worth approximately $118,000. Mindset Wealth Management LLC increased its position in 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 buying an additional 37 shares during the period. MRP Capital Investments LLC purchased a new stake in The Cigna Group in the fourth quarter valued at approximately $66,000. Finally, Goodman Financial Corp boosted its holdings in shares of The Cigna Group by 9.2% in the fourth quarter. Goodman Financial Corp now owns 44,658 shares of the health services provider's stock valued at $12,332,000 after acquiring an additional 3,777 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.
The Cigna Group Price Performance
Shares of CI traded down $3.76 during trading hours on Tuesday, reaching $316.64. The company had a trading volume of 1,172,135 shares, compared to its average volume of 1,565,175. 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 has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a 50 day simple moving average of $302.25 and a 200-day simple moving average of $314.19. The company has a market capitalization of $86.66 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 0.98 and a beta of 0.53.
The Cigna Group (NYSE:CI - Get Free Report) last issued 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the firm earned $6.79 earnings per share. 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is presently 49.35%.
Insider Buying and Selling at The Cigna Group
In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the 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 owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owns 5,471 shares of the company's stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.60% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Oppenheimer dropped their price objective on shares of 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. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Morgan Stanley dropped their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $373.25.
Check Out Our Latest Analysis on CI
The Cigna Group Profile
(
Free Report)
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.
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