MassMutual Private Wealth & Trust FSB Reduces Stake in The Cigna Group (NYSE:CI)

MassMutual Private Wealth & Trust FSB reduced its holdings in The Cigna Group (NYSE:CI - Free Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,793 shares of the health services provider's stock after selling 1,299 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in The Cigna Group were worth $3,880,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its holdings in shares of The Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after acquiring an additional 501,320 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of The Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after acquiring an additional 154,420 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of The Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after acquiring an additional 101,737 shares in the last quarter. GQG Partners LLC increased its holdings in shares of The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after acquiring an additional 737,099 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $867,785,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CI shares. 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 report on Monday, February 3rd. Robert W. Baird decreased their price objective 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. Cowen restated a "buy" rating on shares of The Cigna Group in a report on Monday, May 5th. Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Piper Sandler upped their price target on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $379.33.

The Cigna Group Stock Performance

NYSE:CI traded up $4.00 during trading on Friday, reaching $316.05. The company's stock had a trading volume of 2,732,235 shares, compared to its average volume of 1,697,250. The firm has a market cap of $84.43 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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 firm has a 50 day moving average of $324.83 and a 200-day moving average of $309.58. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

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

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend yield of 1.91%. The Cigna Group's dividend payout ratio is presently 33.44%.

Insider Activity

In other news, insider Nicole S. Jones sold 4,904 shares of the company's 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 of the company's stock, valued at $9,065,198.52. This represents a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 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.