Freestone Capital Holdings LLC Sells 73 Shares of The Cigna Group (NYSE:CI)

Freestone Capital Holdings LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 0.2% during the 4th quarter, Holdings Channel reports. The fund owned 32,295 shares of the health services provider’s stock after selling 73 shares during the quarter. Freestone Capital Holdings LLC’s holdings in The Cigna Group were worth $8,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter valued at approximately $37,000. Collier Financial bought a new position in The Cigna Group in the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the fourth quarter valued at approximately $34,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the fourth quarter valued at approximately $37,000. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction 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 $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CI shares. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Oppenheimer cut 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 report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of 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. Finally, Barclays cut 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 research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Price Performance

Shares of CI opened at $309.84 on Thursday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market cap 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 simple moving average is $291.31 and its 200 day simple moving average is $318.05. 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 released its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 earnings per share. On average, research 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 disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.95%. The Cigna Group’s payout ratio is 49.35%.

The Cigna Group Company 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.