Fmr LLC Reduces Position in The Cigna Group (NYSE:CI)

Fmr LLC lowered its holdings in The Cigna Group (NYSE:CI) by 12.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,465,481 shares of the health services provider’s stock after selling 1,764,916 shares during the quarter. Fmr LLC’s holdings in The Cigna Group were worth $3,442,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CI. Prospector Partners LLC lifted its position in shares of The Cigna Group by 0.3% during the fourth quarter. Prospector Partners LLC now owns 41,135 shares of the health services provider’s stock worth $11,359,000 after acquiring an additional 117 shares in the last quarter. Lyrical Asset Management LP lifted its holdings in The Cigna Group by 0.4% during the 4th quarter. Lyrical Asset Management LP now owns 807,649 shares of the health services provider’s stock worth $223,024,000 after purchasing an additional 3,183 shares in the last quarter. Perennial Investment Advisors LLC boosted its stake in The Cigna Group by 6.4% in the 4th quarter. Perennial Investment Advisors LLC now owns 971 shares of the health services provider’s stock worth $268,000 after purchasing an additional 58 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in The Cigna Group by 3.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,478,767 shares of the health services provider’s stock valued at $408,347,000 after buying an additional 55,839 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB increased its position in shares of The Cigna Group by 88.0% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 78,385 shares of the health services provider’s stock valued at $21,645,000 after buying an additional 36,700 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

The Cigna Group stock opened at $322.02 on Friday. The firm has a fifty day simple moving average of $308.72 and a two-hundred day simple moving average of $312.70. 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 has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market capitalization of $88.13 billion, a PE ratio of 26.31, a P/E/G ratio of 0.98 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its 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 period in the prior year, the business posted $6.79 earnings per share. Research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein lowered 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. UBS Group decreased their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial dropped their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $373.25.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 in the last three months. 0.70% of the stock is owned by insiders.

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.