The Cigna Group (NYSE:CI) Shares Sold by LSV Asset Management

LSV Asset Management lowered its stake in shares of The Cigna Group (NYSE:CI) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 653,160 shares of the health services provider’s stock after selling 39,780 shares during the quarter. LSV Asset Management owned approximately 0.22% of The Cigna Group worth $195,589,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its position in shares of The Cigna Group by 1.7% during the 4th quarter. M&T Bank Corp now owns 54,630 shares of the health services provider’s stock worth $16,359,000 after buying an additional 915 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of The Cigna Group by 58.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,453 shares of the health services provider’s stock valued at $735,000 after buying an additional 908 shares in the last quarter. SouthState Corp lifted its holdings in shares of The Cigna Group by 594.8% during the fourth quarter. SouthState Corp now owns 3,474 shares of the health services provider’s stock valued at $1,040,000 after purchasing an additional 2,974 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of The Cigna Group by 137.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 65,490 shares of the health services provider’s stock worth $19,611,000 after buying an additional 37,889 shares during the period. Finally, Natixis Advisors L.P. increased its position in shares of The Cigna Group by 0.9% in the fourth quarter. Natixis Advisors L.P. now owns 396,007 shares of the health services provider’s stock worth $118,584,000 after acquiring an additional 3,354 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction on Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. In the last three months, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CI. Oppenheimer raised their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Cantor Fitzgerald upped their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday. Barclays assumed coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, Wells Fargo & Company boosted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Price Performance

CI stock traded down $3.00 during trading on Friday, hitting $341.50. 2,413,548 shares of the stock traded hands, compared to its average volume of 1,380,653. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The company has a 50 day simple moving average of $350.77 and a 200 day simple moving average of $319.59.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the previous year, the company posted $5.41 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts expect that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The Cigna Group’s payout ratio is 45.98%.

About The Cigna Group

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.