Highland Capital Management LLC Cuts Position in The Cigna Group (NYSE:CI)

Highland Capital Management LLC decreased its holdings in The Cigna Group (NYSE:CI) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 43,513 shares of the health services provider’s stock after selling 1,239 shares during the period. The Cigna Group makes up about 0.8% of Highland Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Highland Capital Management LLC’s holdings in The Cigna Group were worth $13,030,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aristotle Atlantic Partners LLC raised its holdings in The Cigna Group by 24.3% in the second quarter. Aristotle Atlantic Partners LLC now owns 112,541 shares of the health services provider’s stock valued at $31,579,000 after buying an additional 22,014 shares during the period. Accurate Wealth Management LLC purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $2,244,000. Dfpg Investments LLC raised its stake in shares of The Cigna Group by 92.0% during the fourth quarter. Dfpg Investments LLC now owns 7,160 shares of the health services provider’s stock valued at $2,174,000 after purchasing an additional 3,430 shares during the period. Brandywine Global Investment Management LLC raised its stake in shares of The Cigna Group by 1.5% during the third quarter. Brandywine Global Investment Management LLC now owns 444,817 shares of the health services provider’s stock valued at $127,249,000 after purchasing an additional 6,365 shares during the period. Finally, Perpetual Ltd raised its stake in shares of The Cigna Group by 15.7% during the third quarter. Perpetual Ltd now owns 132,461 shares of the health services provider’s stock valued at $37,893,000 after purchasing an additional 17,925 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock opened at $363.38 on Thursday. The company has a market cap of $106.24 billion, a PE ratio of 20.90, a P/E/G ratio of 1.09 and a beta of 0.55. The company has a fifty day moving average price of $332.16 and a two-hundred day moving average price of $307.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $364.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $4.96 earnings per share. Research analysts expect that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.54%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Insider Activity at The Cigna Group

In related news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $335.00 to $341.00 in a research report on Monday, December 11th. Finally, Wells Fargo & Company raised their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $361.29.

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.