Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 810,129 shares of the health services provider's stock after selling 62,355 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of The Cigna Group worth $242,593,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Axiom Financial Strategies LLC bought a new stake in The Cigna Group in the first quarter valued at about $212,000. Fairfield Bush & CO. bought a new position in shares of The Cigna Group during the first quarter worth $40,000. Cibc World Market Inc. lifted its position in The Cigna Group by 52.6% in the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider's stock valued at $4,547,000 after acquiring an additional 6,538 shares in the last quarter. Vontobel Holding Ltd. lifted its position in The Cigna Group by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider's stock valued at $2,265,000 after acquiring an additional 566 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in The Cigna Group by 36.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider's stock valued at $307,000 after buying an additional 343 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on CI shares. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Sanford C. Bernstein raised shares of The Cigna Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $384.00 price target on shares of The Cigna Group in a research report on Wednesday, April 10th. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 5th. Finally, Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an "overweight" rating and a $393.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $362.14.
Read Our Latest Analysis on The Cigna Group
The Cigna Group Stock Performance
CI traded down $0.94 during trading hours on Monday, hitting $348.90. The company's stock had a trading volume of 1,336,057 shares, compared to its average volume of 1,605,791. The company has a 50-day simple moving average of $346.49 and a 200 day simple moving average of $313.73. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $102.00 billion, a PE ratio of 20.33, a PEG ratio of 1.07 and a beta of 0.56. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71.
The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. During the same period last year, the company earned $4.96 earnings per share. The Cigna Group's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Cigna Group will post 28.36 EPS for the current year.
The Cigna Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from The Cigna Group's previous quarterly dividend of $1.23. The Cigna Group's payout ratio is 32.20%.
Insider Buying and Selling
In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 in the last quarter. Insiders own 0.70% of the company's stock.
About The Cigna Group
(
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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