TD Private Client Wealth LLC Lowers Stock Holdings in The Cigna Group (NYSE:CI)

TD Private Client Wealth LLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 30.5% during the fourth quarter, Holdings Channel reports. The fund owned 4,297 shares of the health services provider’s stock after selling 1,884 shares during the period. TD Private Client Wealth LLC’s holdings in The Cigna Group were worth $1,187,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group in the 4th quarter valued at $4,367,000. Principal Financial Group Inc. lifted its stake in shares of The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. boosted its stake in shares of The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after buying an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CI. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Wells Fargo & Company decreased their price target 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. UBS Group dropped their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Trading Down 1.4 %

Shares of CI opened at $316.78 on Monday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a fifty day moving average of $300.83 and a two-hundred day moving average of $314.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company 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 Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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. As a group, analysts forecast that The Cigna Group will post 29.77 EPS for the current 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 given a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group’s dividend payout ratio is 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction 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 sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. 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 over the last quarter. Company insiders own 0.60% 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.