The Cigna Group (NYSE:CI) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in shares of The Cigna Group (NYSE:CI) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,114 shares of the health services provider’s stock after selling 4,285 shares during the period. Shell Asset Management Co.’s holdings in The Cigna Group were worth $4,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in The Cigna Group during the fourth quarter worth $25,000. Collier Financial acquired a new position in The Cigna Group during the fourth quarter worth $32,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group during the fourth quarter worth $37,000. Transce3nd LLC acquired a new position in The Cigna Group during the fourth quarter worth $38,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several recent analyst reports. Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Guggenheim reaffirmed a “buy” rating and issued a $388.00 price target (up previously from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. Stephens decreased their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $379.33.

The Cigna Group Price Performance

Shares of NYSE CI opened at $308.47 on Friday. The stock’s 50-day moving average is $324.94 and its two-hundred day moving average is $309.85. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market cap of $82.41 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the business posted $6.47 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. The Cigna Group’s payout ratio is currently 33.44%.

Insider Activity

In related news, insider Nicole S. Jones sold 4,904 shares of the firm’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 transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by insiders.

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.