M&R Capital Management Inc. Lowers Stock Position in The Cigna Group (NYSE:CI)

M&R Capital Management Inc. lowered its position in shares of The Cigna Group (NYSE:CI – Get Rating) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,402 shares of the health services provider’s stock after selling 124 shares during the quarter. M&R Capital Management Inc.’s holdings in The Cigna Group were worth $796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in The Cigna Group by 178.4% during the third quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock valued at $29,000 after buying an additional 66 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of The Cigna Group by 32.3% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 401 shares of the health services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of The Cigna Group in the 3rd quarter worth about $34,000. Wagner Wealth Management LLC purchased a new position in shares of The Cigna Group in the 2nd quarter worth about $35,000. Finally, Pittenger & Anderson Inc. raised its position in shares of The Cigna Group by 40.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 140 shares of the health services provider’s stock worth $39,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded down $4.98 during trading hours on Friday, reaching $269.45. 3,738,093 shares of the stock traded hands, compared to its average volume of 1,716,631. The company has a 50 day moving average price of $296.46 and a 200 day moving average price of $304.42. The firm has a market capitalization of $80.04 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.98 and a beta of 0.67. The Cigna Group has a one year low of $238.48 and a one year high of $340.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63.

The Cigna Group (NYSE:CI – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The health services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.84 by $0.12. The company had revenue of $45.75 billion during the quarter, compared to the consensus estimate of $45.79 billion. The Cigna Group had a return on equity of 16.01% and a net margin of 3.69%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $4.77 EPS. On average, equities research analysts expect that The Cigna Group will post 24.65 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Wednesday, March 8th will be paid a dividend of $1.23 per share. The ex-dividend date of this dividend is Tuesday, March 7th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.12. This represents a $4.92 dividend on an annualized basis and a dividend yield of 1.83%. The Cigna Group’s payout ratio is 23.01%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 20,148 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $294.06, for a total value of $5,924,720.88. Following the transaction, the chief executive officer now directly owns 120,496 shares of the company’s stock, valued at approximately $35,433,053.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Michael W. Triplett sold 1,731 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $271.67, for a total value of $470,260.77. Following the transaction, the insider now directly owns 30,235 shares of the company’s stock, valued at approximately $8,213,942.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 20,148 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the transaction, the chief executive officer now directly owns 120,496 shares in the company, valued at $35,433,053.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,752 shares of company stock worth $8,008,479. 0.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $359.00 to $348.00 in a research report on Wednesday, February 8th. Wells Fargo & Company lowered The Cigna Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $370.00 to $355.00 in a research report on Tuesday, January 3rd. Morgan Stanley lifted their price target on The Cigna Group from $347.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Loop Capital decreased their target price on The Cigna Group from $350.00 to $320.00 in a research report on Monday, February 6th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $339.00.

About The Cigna Group

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.