Nuveen Asset Management LLC Sells 95,124 Shares of The Cigna Group (NYSE:CI)

Nuveen Asset Management LLC lowered its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,436,579 shares of the health services provider's stock after selling 95,124 shares during the period. Nuveen Asset Management LLC owned 0.88% of The Cigna Group worth $672,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. TCTC Holdings LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $32,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $37,000. Transce3nd LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $38,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $53,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

The Cigna Group stock traded up $11.82 during trading hours on Friday, reaching $320.68. 2,055,906 shares of the stock were exchanged, compared to its average volume of 1,714,979. The company has a market cap of $85.67 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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 Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a 50 day moving average of $325.00 and a two-hundred day moving average of $309.94.

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, 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 firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the company posted $6.47 earnings per share. The business's revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business 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 $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group's payout ratio is currently 33.44%.

Insider Activity

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 shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. The trade was a 42.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group decreased their price objective 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. Sanford C. Bernstein lowered The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Mizuho upped 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. Oppenheimer decreased their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target 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.