Beacon Pointe Advisors LLC lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,186 shares of the health services provider's stock after selling 5,589 shares during the period. Beacon Pointe Advisors LLC's holdings in The Cigna Group were worth $10,268,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Garden State Investment Advisory Services LLC bought a new stake in shares of The Cigna Group in the 3rd quarter worth about $444,000. Advisory Resource Group grew its stake in The Cigna Group by 2.0% in the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider's stock worth $4,560,000 after purchasing an additional 263 shares in the last quarter. Virtu Financial LLC increased its holdings in The Cigna Group by 39.6% in the third quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider's stock valued at $5,949,000 after buying an additional 4,870 shares during the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in The Cigna Group by 7.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider's stock valued at $7,003,000 after buying an additional 1,490 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock worth $5,444,000 after buying an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.
Insider Activity
In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last 90 days. 0.70% of the stock is owned by company insiders.
The Cigna Group Price Performance
CI stock traded down $1.15 on Friday, hitting $334.03. 2,471,704 shares of the company's stock traded hands, compared to its average volume of 1,701,931. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $91.42 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock has a fifty day moving average of $322.82 and a 200-day moving average of $310.34.
The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.61% and a net margin of 1.39%. The company's revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $6.47 EPS. On average, analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.
Wall Street Analyst Weigh In
CI has been the subject of a number of research analyst reports. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Guggenheim began coverage on shares of The Cigna Group in a research note on Wednesday, April 9th. They set a "buy" rating and a $384.00 target price for the company. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Robert W. Baird decreased their price target on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler reiterated an "overweight" rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $373.56.
Read Our Latest Report on The Cigna Group
The Cigna Group Company Profile
(
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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