Calamos Advisors LLC Sells 700 Shares of The Cigna Group (NYSE:CI)

Calamos Advisors LLC cut its stake in shares of The Cigna Group (NYSE:CI) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 53,627 shares of the health services provider’s stock after selling 700 shares during the period. Calamos Advisors LLC’s holdings in The Cigna Group were worth $16,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC increased its position in shares of The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of The Cigna Group by 154,255.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after purchasing an additional 11,947,096 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of The Cigna Group by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the last quarter. Morgan Stanley increased its position in shares of The Cigna Group by 4.7% in the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of The Cigna Group by 5.9% in the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after purchasing an additional 181,385 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

Shares of CI stock traded up $1.85 during trading hours on Friday, reaching $350.63. 242,933 shares of the company traded hands, compared to its average volume of 1,587,770. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. 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 company has a market cap of $102.51 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.06 and a beta of 0.56. The firm has a 50-day moving average price of $348.06 and a 200 day moving average price of $315.03.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $4.96 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Mizuho upped their target price on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Barclays assumed coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Wells Fargo & Company upped their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $362.14.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, 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 valued at $39,296,330 in the last quarter. 0.60% of the stock is currently owned by insiders.

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.