Associated Banc Corp Sells 2,322 Shares of The Cigna Group (NYSE:CI)

Associated Banc Corp lessened its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 119,971 shares of the health services provider's stock after selling 2,322 shares during the quarter. The Cigna Group makes up about 1.2% of Associated Banc Corp's investment portfolio, making the stock its 18th biggest position. Associated Banc Corp's holdings in The Cigna Group were worth $35,925,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Thoroughbred Financial Services LLC increased its position in The Cigna Group by 16.7% during the fourth quarter. Thoroughbred Financial Services LLC now owns 6,647 shares of the health services provider's stock worth $1,990,000 after purchasing an additional 951 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of The Cigna Group by 23.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,468 shares of the health services provider's stock worth $1,338,000 after buying an additional 836 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of The Cigna Group by 99.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,252 shares of the health services provider's stock worth $10,856,000 after buying an additional 18,059 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in The Cigna Group in the fourth quarter valued at $669,000. Finally, Norges Bank purchased a new stake in The Cigna Group during the fourth quarter valued at about $1,006,348,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the business's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares of the company's stock, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,685 shares of company stock worth $27,622,407. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CI. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, March 14th. Mizuho boosted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, February 5th. Wells Fargo & Company raised their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. Cantor Fitzgerald increased their price target on The Cigna Group from $384.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $366.14.

The Cigna Group Stock Up 0.9 %

Shares of CI traded up $3.01 during midday trading on Tuesday, hitting $336.38. The company had a trading volume of 1,172,423 shares, compared to its average volume of 1,597,685. The stock has a market cap of $95.56 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.03 and a beta of 0.57. The company's 50 day moving average price is $352.01 and its 200 day moving average price is $322.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts' consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter last year, the business posted $5.41 EPS. The Cigna Group's quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group's dividend payout ratio (DPR) is 45.98%.

About The Cigna Group

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.