The Cigna Group (NYSE:CI) Stock Position Decreased by Mission Wealth Management LP

Mission Wealth Management LP lowered its holdings in The Cigna Group (NYSE:CI) by 8.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,069 shares of the health services provider’s stock after selling 185 shares during the period. Mission Wealth Management LP’s holdings in The Cigna Group were worth $571,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CI. Swedbank AB lifted its holdings in shares of The Cigna Group by 26.6% in the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after purchasing an additional 119,681 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of The Cigna Group by 42.0% in the third quarter. Farther Finance Advisors LLC now owns 1,877 shares of the health services provider’s stock valued at $650,000 after purchasing an additional 555 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of The Cigna Group by 4.5% in the third quarter. Janney Montgomery Scott LLC now owns 31,664 shares of the health services provider’s stock valued at $10,970,000 after purchasing an additional 1,372 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group in the third quarter valued at $45,000. Finally, Van ECK Associates Corp lifted its holdings in shares of The Cigna Group by 1.8% in the third quarter. Van ECK Associates Corp now owns 15,137 shares of the health services provider’s stock valued at $4,807,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group 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 sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CI shares. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. 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 report on Friday, January 31st. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Cantor Fitzgerald cut their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two 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 a consensus target price of $372.31.

The Cigna Group Trading Up 0.3 %

The Cigna Group stock opened at $309.84 on Thursday. The company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 0.98 and a beta of 0.54. The company’s fifty day moving average price is $291.31 and its two-hundred day moving average price is $318.05. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. 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 Cigna Group (NYSE:CI) last issued 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 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, analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

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