Shell Asset Management Co. Sells 4,285 Shares of The Cigna Group (NYSE:CI)

Shell Asset Management Co. cut its position in shares of The Cigna Group (NYSE:CI - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,114 shares of the health services provider's stock after selling 4,285 shares during the quarter. Shell Asset Management Co.'s holdings in The Cigna Group were worth $4,174,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake 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 valued at $3,191,151,000 after purchasing an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its stake in The Cigna Group by 2.0% in the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Geode Capital Management LLC grew its stake in The Cigna Group by 1.7% in the fourth 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 purchasing an additional 101,737 shares in the last quarter. GQG Partners LLC grew its stake 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 valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank bought a new position in The Cigna Group in the fourth quarter valued at approximately $867,785,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of CI traded up $0.76 during midday trading on Monday, hitting $321.70. The company's stock had a trading volume of 1,242,298 shares, compared to its average volume of 1,711,909. The stock has a market capitalization of $85.94 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The company's fifty day simple moving average is $325.00 and its two-hundred day simple moving average is $309.88.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for 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 Cigna Group's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.47 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. 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 33.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Wells Fargo & Company cut their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Finally, Barclays raised their price objective on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $379.33.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. The trade was a 42.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $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 43,751 shares of company stock valued at $13,603,991 in the last ninety days. 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.