Great Lakes Advisors LLC Trims Stock Holdings in The Cigna Group (NYSE:CI)

Great Lakes Advisors LLC lessened its holdings in shares of The Cigna Group (NYSE:CIFree Report) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,831 shares of the health services provider’s stock after selling 625 shares during the quarter. Great Lakes Advisors LLC’s holdings in The Cigna Group were worth $548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group in the fourth quarter worth $29,000. VisionPoint Advisory Group LLC raised its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in The Cigna Group in the fourth quarter worth about $43,000. Finally, Northwest Financial Advisors bought a new stake in The Cigna Group in the fourth quarter valued at about $49,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. Cantor Fitzgerald increased their target price on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Wells Fargo & Company lifted their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays initiated coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $366.14.

Get Our Latest Stock Report on The Cigna Group

The Cigna Group Trading Up 0.0 %

Shares of CI stock opened at $336.47 on Thursday. The firm has a market capitalization of $95.58 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The stock has a fifty day moving average of $351.62 and a two-hundred day moving average of $322.86.

The Cigna Group (NYSE:CIGet Free Report) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the prior year, the firm posted $5.41 EPS. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 6,319 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $345.24, for a total value of $2,181,571.56. Following the completion of the sale, the chief executive officer now owns 336,783 shares in the company, valued at $116,270,962.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 6,319 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $345.24, for a total value of $2,181,571.56. Following the sale, the chief executive officer now directly owns 336,783 shares in the company, valued at $116,270,962.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,685 shares of company stock valued at $27,622,407. 0.70% of the stock is owned by corporate insiders.

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.

See Also

Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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