Integrated Wealth Concepts LLC Lowers Holdings in The Cigna Group (NYSE:CI)

Integrated Wealth Concepts LLC lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,985 shares of the health services provider's stock after selling 1,058 shares during the quarter. Integrated Wealth Concepts LLC's holdings in The Cigna Group were worth $2,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CI. Norges Bank purchased a new position in The Cigna Group during the 4th quarter valued at about $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in The Cigna Group during the 4th quarter valued at $724,517,000. Raymond James Financial Inc. bought a new position in The Cigna Group in the 4th quarter worth $313,911,000. GQG Partners LLC boosted its stake in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after buying an additional 501,320 shares during the period. 86.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on 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 transaction, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

Shares of NYSE CI traded down $2.77 during midday trading on Friday, reaching $332.42. The stock had a trading volume of 1,187,390 shares, compared to its average volume of 1,702,560. The company has a market capitalization of $90.97 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a 50-day moving average of $322.82 and a 200-day moving average of $310.34. 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 (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 the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business's revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $6.47 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.82%. The Cigna Group's payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CI. Piper Sandler restated an "overweight" rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Guggenheim began coverage on The Cigna Group in a research report on Wednesday, April 9th. They issued a "buy" rating and a $384.00 price target for the company. Wells Fargo & Company decreased their target price on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Truist Financial raised their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Oppenheimer lowered their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $373.56.

The Cigna Group Company 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.