Andra AP fonden Decreases Holdings in The Cigna Group (NYSE:CI)

Andra AP fonden lowered its stake in The Cigna Group (NYSE:CI) by 19.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,800 shares of the health services provider’s stock after selling 17,200 shares during the quarter. Andra AP fonden’s holdings in The Cigna Group were worth $19,275,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Collier Financial acquired a new stake in shares of The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth $34,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the 3rd quarter worth $37,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

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 shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $321.48 on Friday. The firm’s 50-day moving average price is $292.84 and its two-hundred day moving average price is $317.89. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market capitalization of $89.42 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly 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 quarter last year, the business posted $6.79 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald decreased their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $372.31.

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.