Wealth Advisors of Tampa Bay LLC Cuts Stake in The Cigna Group (NYSE:CI)

Wealth Advisors of Tampa Bay LLC trimmed its position in The Cigna Group (NYSE:CI - Free Report) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,620 shares of the health services provider's stock after selling 1,300 shares during the quarter. Wealth Advisors of Tampa Bay LLC's holdings in The Cigna Group were worth $723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sterling Financial Group Inc. bought a new position in The Cigna Group during the 4th quarter worth $4,367,000. Principal Financial Group Inc. grew its position in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after purchasing an additional 858 shares during the last quarter. Valley Wealth Managers Inc. increased its holdings in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its position in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock worth $5,444,000 after buying an additional 3,466 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company's stock.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $7.51 during midday trading on Monday, reaching $314.90. The company's stock had a trading volume of 2,918,116 shares, compared to its average volume of 1,674,473. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market capitalization of $86.18 billion, a P/E ratio of 25.73, a PEG ratio of 0.98 and a beta of 0.51. The firm has a 50 day moving average price of $308.72 and a 200-day moving average price of $312.39. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last announced its 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the business earned $6.79 EPS. As a group, equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.92%. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is 49.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group cut their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 29th. 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. Piper Sandler reaffirmed an "overweight" rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen 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 currently has an average rating of "Buy" and an average target price of $373.25.

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.