Toronto Dominion Bank Lowers Position in The Cigna Group (NYSE:CI)

Toronto Dominion Bank cut its holdings in The Cigna Group (NYSE:CI - Free Report) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,065 shares of the health services provider's stock after selling 45,808 shares during the quarter. Toronto Dominion Bank's holdings in The Cigna Group were worth $25,975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kesler Norman & Wride LLC raised its position in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock valued at $562,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after buying an additional 36 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after buying an additional 37 shares during the period. Mindset Wealth Management LLC grew its holdings in shares of The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after buying an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock valued at $483,000 after buying an additional 38 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI stock traded down $4.43 on Thursday, reaching $312.66. 1,699,830 shares of the company were exchanged, compared to its average volume of 1,711,189. 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 business has a 50-day moving average price of $325.56 and a 200 day moving average price of $310.07. The company has a market cap of $83.53 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 0.98 and a beta of 0.47.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.93%. The Cigna Group's payout ratio is currently 33.44%.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Wall Street Zen upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Raymond James reissued a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Morgan Stanley increased their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $379.33.

Insiders Place Their Bets

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 0.70% of the stock is owned by insiders.

The Cigna Group Company 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.