Man Group plc trimmed its position in The Cigna Group (NYSE:CI - Free Report) by 36.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 141,999 shares of the health services provider's stock after selling 82,567 shares during the period. Man Group plc owned about 0.05% of The Cigna Group worth $39,212,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. Kesler Norman & Wride LLC grew its stake in shares of The Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC grew its stake in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock valued at $1,013,000 after acquiring an additional 37 shares during the period. Mindset Wealth Management LLC grew its stake in The Cigna Group by 2.6% in the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after acquiring an additional 37 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in The Cigna Group by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock valued at $483,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.
The Cigna Group Trading Up 3.8%
CI traded up $11.82 on Friday, reaching $320.68. 2,055,906 shares of the company's stock were exchanged, compared to its average volume of 1,713,793. The company has a market cap of $85.67 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company's 50 day moving average is $325.00 and its 200-day moving average is $309.91. 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 Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.47 EPS. Equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.
The Cigna Group Announces Dividend
The firm also recently announced 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. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is currently 33.44%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Robert W. Baird reduced their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. UBS Group reduced their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald increased 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 report on Thursday, March 20th. Two 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's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $379.33.
Read Our Latest Report on The Cigna Group
Insider Activity
In other news, CEO David Cordani sold 26,527 shares of the 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 completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by insiders.
The Cigna Group Profile
(
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.
See Also
Before you consider The Cigna Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Cigna Group wasn't on the list.
While The Cigna Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
