Simplify Asset Management Inc. Sells 8,382 Shares of The Cigna Group (NYSE:CI)

Simplify Asset Management Inc. decreased its position in The Cigna Group (NYSE:CI) by 40.0% in the fourth quarter, Holdings Channel reports. The firm owned 12,551 shares of the health services provider’s stock after selling 8,382 shares during the period. Simplify Asset Management Inc.’s holdings in The Cigna Group were worth $3,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. English Capital Management LLC lifted its stake in The Cigna Group by 6.2% in the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider’s stock worth $5,685,000 after acquiring an additional 1,202 shares during the period. Focused Investors LLC raised its holdings in shares of The Cigna Group by 8.8% in the 4th quarter. Focused Investors LLC now owns 587,450 shares of the health services provider’s stock valued at $162,218,000 after purchasing an additional 47,550 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $51,589,000. AXQ Capital LP bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $422,000. Finally, Hillsdale Investment Management Inc. increased its holdings in The Cigna Group by 4.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,390 shares of the health services provider’s stock valued at $660,000 after buying an additional 100 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $316.78 on Friday. The firm has a market capitalization of $86.70 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company’s fifty day moving average price is $300.83 and its 200-day moving average price is $315.05. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period last year, the business earned $6.79 earnings per share. On average, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.91%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CI shares. Cantor Fitzgerald upped their target price on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial decreased their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler reissued an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.25.

Insider Activity

In other news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $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. Insiders own 0.60% of the company’s stock.

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.