GTS Securities LLC Reduces Position in The Cigna Group (NYSE:CI)

GTS Securities LLC lowered its holdings in The Cigna Group (NYSE:CI - Free Report) by 53.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,768 shares of the health services provider's stock after selling 2,034 shares during the period. GTS Securities LLC's holdings in The Cigna Group were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Two Sigma Investments LP boosted its stake in The Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after buying an additional 188,235 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after acquiring an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after buying an additional 1,548 shares during the last quarter. Humankind Investments LLC increased its position in The Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after buying an additional 571 shares during the period. Finally, KBC Group NV increased its holdings in shares of The Cigna Group by 1.5% during the 4th quarter. KBC Group NV now owns 550,638 shares of the health services provider's stock worth $152,053,000 after purchasing an additional 8,077 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the company'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 completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company's stock.

The Cigna Group Price Performance

Shares of CI traded up $4.00 during mid-day trading on Friday, reaching $316.05. The company had a trading volume of 2,705,856 shares, compared to its average volume of 1,714,008. The company's 50 day simple moving average is $324.84 and its 200 day simple moving average is $309.75. The company has a market capitalization of $84.43 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 0.98 and a beta of 0.47. 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 quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 earnings per share. The Cigna Group's revenue for the quarter was up 14.4% on a year-over-year basis. Analysts expect that The Cigna Group will post 29.77 EPS for the current 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 is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CI shares. Robert W. Baird dropped their price target on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. UBS Group decreased their price objective 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. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial raised their price target on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Cowen reiterated a "buy" rating on shares of The Cigna Group in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of "Buy" and a consensus price target of $379.33.

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.