Stack Financial Management Inc Decreases Stake in The Cigna Group (NYSE:CI)

Stack Financial Management Inc lessened its stake in The Cigna Group (NYSE:CI) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 74,236 shares of the health services provider’s stock after selling 1,400 shares during the quarter. The Cigna Group accounts for approximately 2.5% of Stack Financial Management Inc’s portfolio, making the stock its 13th biggest position. Stack Financial Management Inc’s holdings in The Cigna Group were worth $22,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC increased its holdings in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new stake in The Cigna Group during the third quarter worth $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the fourth quarter worth $29,000. VisionPoint Advisory Group LLC lifted its position in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Mizuho lifted their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Wells Fargo & Company lifted their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Stock Performance

Shares of CI stock traded down $1.36 during trading hours on Friday, reaching $353.15. The company had a trading volume of 342,915 shares, compared to its average volume of 1,564,362. The business has a fifty day moving average price of $349.61 and a 200-day moving average price of $317.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $103.25 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The Cigna Group has a one year low of $240.50 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid 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 1.59%. The Cigna Group’s dividend payout ratio is currently 32.20%.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is owned by company insiders.

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.