Parsifal Capital Management LP Sells 72,672 Shares of The Cigna Group (NYSE:CI)

Parsifal Capital Management LP reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,380 shares of the health services provider's stock after selling 72,672 shares during the period. The Cigna Group accounts for 1.5% of Parsifal Capital Management LP's investment portfolio, making the stock its 15th biggest holding. Parsifal Capital Management LP's holdings in The Cigna Group were worth $17,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after acquiring an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its holdings in shares of The Cigna Group by 2.0% during the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after acquiring an additional 154,420 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after acquiring an additional 101,737 shares in the last quarter. GQG Partners LLC boosted its holdings in The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank bought a new stake in The Cigna Group in the fourth quarter worth $867,785,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI traded up $11.82 during trading hours on Friday, reaching $320.68. 2,055,906 shares of the company traded hands, compared to its average volume of 1,714,979. The stock's fifty day moving average is $325.00 and its 200 day moving average is $309.94. The stock 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 debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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 EPS for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.47 earnings per share. Equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 33.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Morgan Stanley upped their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a report on Monday, May 5th. Finally, Mizuho upped their price objective on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $379.33.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company's stock, valued at $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.70% of the stock is owned by company insiders.

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.