Pzena Investment Management LLC Lowers Stock Holdings in The Cigna Group (NYSE:CI)

Pzena Investment Management LLC decreased its stake in The Cigna Group (NYSE:CI - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 544,326 shares of the health services provider's stock after selling 15,873 shares during the period. Pzena Investment Management LLC owned about 0.19% of The Cigna Group worth $162,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Seizert Capital Partners LLC boosted its holdings in shares of The Cigna Group by 195.8% in the 4th quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider's stock worth $9,627,000 after purchasing an additional 21,280 shares in the last quarter. Roman Butler Fullerton & Co. grew 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 valued at $2,772,000 after acquiring an additional 3,539 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $4,377,000. Sapient Capital LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $2,811,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of The Cigna Group by 29.5% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CI. Wells Fargo & Company raised their price objective on 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. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, March 14th. Morgan Stanley reissued an "overweight" rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, Mizuho boosted their price target on The Cigna Group from $360.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $366.14.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were 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 owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Cordani sold 31,209 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business's stock in a transaction dated Tuesday, May 14th. The shares were 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 directly owns 2,595 shares of the company's stock, valued at approximately $904,902.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,685 shares of company stock worth $27,622,407. 0.70% of the stock is owned by insiders.

The Cigna Group Stock Up 0.0 %

Shares of CI stock traded up $0.09 during trading hours on Wednesday, hitting $336.47. 968,778 shares of the company's stock traded hands, compared to its average volume of 1,591,354. 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 stock has a market cap of $95.58 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.02 and a beta of 0.57. The stock's fifty day simple moving average is $351.62 and its two-hundred day simple moving average is $322.86. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group's payout ratio is currently 45.98%.

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.