The Cigna Group (NYSE:CI) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lowered its holdings in The Cigna Group (NYSE:CI) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,077 shares of the health services provider’s stock after selling 92 shares during the quarter. KCM Investment Advisors LLC’s holdings in The Cigna Group were worth $574,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CI. Massachusetts Financial Services Co. MA raised its position in shares of The Cigna Group by 4.5% during 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 purchasing an additional 501,320 shares during the period. Geode Capital Management LLC raised its holdings in 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 worth $1,640,878,000 after buying an additional 101,737 shares during the period. GQG Partners LLC raised its holdings in 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 worth $1,110,520,000 after buying an additional 737,099 shares during the period. Norges Bank purchased a new stake in The Cigna Group during the fourth quarter valued at about $867,785,000. Finally, Franklin Resources Inc. increased its position in shares of The Cigna Group by 10.8% in the fourth quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider’s stock worth $808,323,000 after acquiring an additional 286,515 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 4.9 %

Shares of CI stock opened at $322.02 on Monday. The business’s 50 day moving average is $308.72 and its two-hundred day moving average is $312.39. 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 Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the business earned $6.79 earnings per share. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Finally, Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have issued 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 an average target price of $373.25.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade 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 valued at $13,603,991 in the last three months. Company insiders own 0.70% of the company’s stock.

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.