USS Investment Management Ltd Trims Stock Position in The Cigna Group (NYSE:CI)

USS Investment Management Ltd reduced its position in shares of The Cigna Group (NYSE:CI - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,729 shares of the health services provider's stock after selling 3,748 shares during the period. USS Investment Management Ltd's holdings in The Cigna Group were worth $14,292,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth $25,000. Collier Financial purchased a new stake in shares of The Cigna Group during the 4th quarter worth $32,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Transce3nd LLC acquired a new stake in The Cigna Group during the 4th quarter worth $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group during the 4th quarter worth $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $3.68 on Friday, reaching $316.36. 1,667,838 shares of the stock were exchanged, compared to its average volume of 1,714,787. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 business has a fifty day moving average price of $325.35 and a two-hundred day moving average price of $310.06. The firm has a market capitalization of $84.51 billion, a PE ratio of 25.85, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period in the previous year, the business posted $6.47 earnings per share. The business's revenue was up 14.4% compared to the same quarter last year. As a group, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend 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 (DPR) is 33.44%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59% 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 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 transaction, the insider now owns 29,421 shares in the company, valued at $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 worth $13,603,991 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. Robert W. Baird cut their price target on shares of 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. Wall Street Zen upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Truist Financial lifted 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. Cantor Fitzgerald lifted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, Piper Sandler lifted their price target on shares of The Cigna Group from $348.00 to $374.00 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 assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price 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.