The Cigna Group (NYSE:CI) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 29.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 996,273 shares of the health services provider's stock after selling 417,969 shares during the period. AQR Capital Management LLC owned about 0.36% of The Cigna Group worth $275,111,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CI. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $37,000. Finally, Transce3nd LLC bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on 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 transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CI. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. UBS Group reduced their target price on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Piper Sandler reissued an "overweight" rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and an average target price of $373.56.

The Cigna Group Price Performance

The Cigna Group stock traded down $4.83 during trading on Thursday, reaching $335.21. The company had a trading volume of 1,987,009 shares, compared to its average volume of 1,704,480. The firm has a market capitalization of $91.74 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The firm's 50-day simple moving average is $322.82 and its 200 day simple moving average is $310.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the firm posted $6.79 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The Cigna Group's payout ratio is currently 49.35%.

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.