Shikiar Asset Management Inc. Sells 2,850 Shares of The Cigna Group (NYSE:CI)

Shikiar Asset Management Inc. decreased its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,549 shares of the health services provider's stock after selling 2,850 shares during the period. The Cigna Group accounts for 2.6% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 14th biggest position. Shikiar Asset Management Inc.'s holdings in The Cigna Group were worth $8,250,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Roman Butler Fullerton & Co. increased its position in The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider's stock worth $2,772,000 after buying an additional 3,539 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $4,377,000. Sapient Capital LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $2,811,000. Allspring Global Investments Holdings LLC grew its position in shares of The Cigna Group by 29.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider's stock valued at $87,870,000 after purchasing an additional 66,891 shares during the period. Finally, Accurate Wealth Management LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $2,244,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Up 1.0 %

Shares of CI traded up $3.61 during midday trading on Friday, reaching $352.39. 1,305,066 shares of the company were exchanged, compared to its average volume of 1,262,346. The stock has a 50-day moving average price of $348.41 and a 200-day moving average price of $315.91. The company has a market cap of $103.02 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.08 and a beta of 0.56. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. 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 Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $51.15 billion for the quarter, compared to analysts' expectations of $48.91 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The firm's quarterly revenue was up 11.8% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. This is an increase from The Cigna Group's previous quarterly dividend of $1.23. The Cigna Group's dividend payout ratio is currently 32.20%.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The stock was 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 of the company's stock, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company's stock, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Wells Fargo & Company boosted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 6th. 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. Oppenheimer reissued an "outperform" rating and set a $360.00 price target on shares of The Cigna Group in a research report on Wednesday, January 17th. Finally, Sanford C. Bernstein raised The Cigna Group from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $362.14.

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.