Mattson Financial Services LLC decreased its stake in The Cigna Group (NYSE:CI - Free Report) by 69.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,581 shares of the health services provider's stock after selling 5,895 shares during the period. Mattson Financial Services LLC's holdings in The Cigna Group were worth $713,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of The Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after acquiring an additional 318 shares during the last quarter. Blue Trust Inc. lifted its position in shares of The Cigna Group by 43.8% in the fourth quarter. Blue Trust Inc. now owns 3,510 shares of the health services provider's stock worth $969,000 after buying an additional 1,069 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of The Cigna Group by 61.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,773 shares of the health services provider's stock worth $9,602,000 after buying an additional 13,241 shares during the last quarter. R Squared Ltd acquired a new position in shares of The Cigna Group during the 4th quarter worth about $69,000. Finally, Asset Dedication LLC lifted its position in shares of The Cigna Group by 23.1% during the 4th quarter. Asset Dedication LLC now owns 1,419 shares of the health services provider's stock worth $392,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 86.99% of the company's stock.
The Cigna Group Stock Performance
NYSE CI traded up $4.00 on Friday, hitting $316.05. 2,732,235 shares of the company's stock traded hands, compared to its average volume of 1,706,123. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm's 50-day moving average price is $324.83 and its two-hundred day moving average price is $309.58. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $84.43 billion, a PE ratio of 25.82, a P/E/G ratio of 0.98 and a beta of 0.47.
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 analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.47 earnings per share. As a group, analysts expect that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Announces Dividend
The business also recently announced 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 annualized dividend and a yield of 1.91%. The Cigna Group's payout ratio is currently 33.44%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CI. Robert W. Baird lowered their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Truist Financial lifted their price target on The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Mizuho raised their price objective on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and an average target price of $379.33.
Read Our Latest Report on The Cigna Group
Insiders Place Their Bets
In other news, CEO David Cordani sold 26,527 shares of the firm'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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were 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 owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by company insiders.
The Cigna Group Company Profile
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Free Report)
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.
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