Mackenzie Financial Corp Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Mackenzie Financial Corp cut its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,005 shares of the health services provider's stock after selling 1,988 shares during the period. Mackenzie Financial Corp's holdings in The Cigna Group were worth $32,310,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business'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 $1,511,020.48. Following the completion of the sale, the insider now directly 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 document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value 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. This represents a 17.19% decrease in their ownership of the stock. 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. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Up 0.3%

Shares of NYSE CI traded up $0.97 during trading on Thursday, reaching $311.83. The company had a trading volume of 1,745,688 shares, compared to its average volume of 1,714,806. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market cap of $83.30 billion, a PE ratio of 25.48, a P/E/G ratio of 0.98 and a beta of 0.47. The business's 50-day moving average is $325.02 and its 200 day moving average is $309.96. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping 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 firm had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the firm posted $6.47 earnings per share. The company's quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group's payout ratio is 33.44%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stephens lowered their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Wells Fargo & Company decreased their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Barclays upped their target price on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Robert W. Baird decreased their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has a consensus rating of "Buy" and an average 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.