Hyman Charles D Cuts Stock Position in The Cigna Group (NYSE:CI)

Hyman Charles D trimmed its position in shares of The Cigna Group (NYSE:CI) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,725 shares of the health services provider’s stock after selling 73 shares during the quarter. Hyman Charles D’s holdings in The Cigna Group were worth $3,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC purchased a new position in shares of The Cigna Group in the 3rd quarter valued at about $731,041,000. FMR LLC raised its holdings in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after acquiring an additional 1,939,554 shares in the last quarter. Cerity Partners LLC lifted its stake in The Cigna Group by 1,039.4% in the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after acquiring an additional 538,274 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after acquiring an additional 345,605 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of The Cigna Group by 127.3% in the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after purchasing an additional 317,081 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CI. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $366.14.

The Cigna Group Price Performance

CI stock traded up $4.29 during midday trading on Tuesday, hitting $346.70. 1,548,683 shares of the stock were exchanged, compared to its average volume of 1,590,111. The stock’s 50-day moving average price is $350.89 and its 200-day moving average price is $320.21. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $98.49 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.04 and a beta of 0.57. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the previous year, the firm earned $5.41 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts predict that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares of the company’s stock, valued at $15,180,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

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.