Corebridge Financial Inc. Sells 3,399 Shares of The Cigna Group (NYSE:CI)

Corebridge Financial Inc. decreased its position in The Cigna Group (NYSE:CI) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,928 shares of the health services provider’s stock after selling 3,399 shares during the quarter. Corebridge Financial Inc.’s holdings in The Cigna Group were worth $17,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at about $25,000. Collier Financial bought a new position in The Cigna Group during the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’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 transaction of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent analyst reports. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Cantor Fitzgerald upped their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley lowered their price target on 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $320.79 on Tuesday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market capitalization of $87.79 billion, a P/E ratio of 26.21, a P/E/G ratio of 0.98 and a beta of 0.53. 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 business has a fifty day simple moving average of $301.62 and a two-hundred day simple moving average of $314.45.

The Cigna Group (NYSE:CI) last issued its quarterly 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 in the previous year, the firm earned $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.