Cresset Asset Management LLC Sells 20,210 Shares of The Cigna Group (NYSE:CI)

Cresset Asset Management LLC cut its holdings in The Cigna Group (NYSE:CI - Free Report) by 75.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,513 shares of the health services provider's stock after selling 20,210 shares during the period. Cresset Asset Management LLC's holdings in The Cigna Group were worth $1,799,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CI. TCTC Holdings LLC bought a new position in The Cigna Group during the fourth quarter valued at $25,000. Collier Financial bought a new position in The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter valued at $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the fourth quarter valued at $37,000. Finally, Transce3nd LLC bought a new position in The Cigna Group during the fourth quarter valued at $38,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Morgan Stanley increased their price objective on The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Stephens dropped their target price on 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. Wells Fargo & Company dropped their target price on 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. Mizuho increased their target price on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Piper Sandler increased their target price on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and an average target price of $379.33.

The Cigna Group Price Performance

NYSE CI traded up $10.22 during trading hours on Friday, reaching $319.08. 849,707 shares of the stock traded hands, compared to its average volume of 1,713,174. The stock has a 50 day simple moving average of $324.94 and a two-hundred day simple moving average of $309.85. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a market cap of $85.24 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the business posted $6.47 earnings per share. The company's revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.89%. The Cigna Group's payout ratio is 33.44%.

Insider Buying and Selling at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last 90 days. Corporate insiders own 0.70% 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.