The Cigna Group (NYSE:CI) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,172 shares of the health services provider’s stock after selling 77 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in The Cigna Group were worth $324,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its position in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after buying an additional 130,048 shares during the last quarter. Geode Capital Management LLC grew its position in The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after buying an additional 22,408 shares during the last quarter. Parnassus Investments LLC boosted its stake in The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares during the period. Finally, Amundi boosted its stake in The Cigna Group by 19.9% in the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of a number of recent analyst reports. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. 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 note on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $372.31.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value 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 trade represents a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction 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 completion of 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 disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Up 1.9 %

The Cigna Group stock opened at $321.48 on Monday. The company has a market capitalization of $87.98 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The firm’s fifty day simple moving average is $292.84 and its 200-day simple moving average is $317.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company posted $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

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

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.