The Cigna Group (NYSE:CI) Stake Lessened by Trust Investment Advisors

Trust Investment Advisors trimmed its stake in shares of The Cigna Group (NYSE:CI) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,386 shares of the health services provider’s stock after selling 50 shares during the quarter. Trust Investment Advisors’ holdings in The Cigna Group were worth $935,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Geode Capital Management LLC grew its position in shares of The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. GQG Partners LLC increased its holdings in shares of The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Amundi raised its position in shares of The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after acquiring an additional 374,865 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CI has been the topic of a number of research reports. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial lowered their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company cut their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald upped their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Two 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Down 1.2 %

CI stock opened at $316.64 on Wednesday. The firm’s 50-day moving average is $302.25 and its two-hundred day moving average is $314.19. The company has a market capitalization of $86.66 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 period in the prior year, the firm posted $6.79 EPS. 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.91%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. 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 over the last three months. Company insiders own 0.60% 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.