The Cigna Group (NYSE:CI) Shares Sold by Westpac Banking Corp

Westpac Banking Corp reduced its position in shares of The Cigna Group (NYSE:CI - Free Report) by 20.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,210 shares of the health services provider's stock after selling 5,203 shares during the period. Westpac Banking Corp's holdings in The Cigna Group were worth $5,581,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $25,000. Collier Financial acquired a new stake in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $34,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Down 1.8 %

Shares of CI traded down $5.67 during mid-day trading on Monday, reaching $316.73. 1,746,500 shares of the stock traded hands, compared to its average volume of 1,670,075. The stock has a fifty day simple moving average of $308.72 and a 200 day simple moving average of $312.39. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 firm has a market cap of $86.68 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 0.98 and a beta of 0.51.

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The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company posted $6.79 EPS. Sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Wednesday, March 5th. 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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. 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. Truist Financial lowered their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company cut 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 report on Tuesday, February 4th. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $373.25.

Insider Buying and Selling at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last three months. Corporate insiders own 0.70% of the company's stock.

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.