Freestone Capital Holdings LLC Has $8.92 Million Holdings in The Cigna Group (NYSE:CI)

Freestone Capital Holdings LLC cut its position in The Cigna Group (NYSE:CI) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,295 shares of the health services provider’s stock after selling 73 shares during the quarter. Freestone Capital Holdings LLC’s holdings in The Cigna Group were worth $8,918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in The Cigna Group in the 4th quarter valued at $313,911,000. Swedbank AB boosted its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after purchasing an additional 314,123 shares during the period. FMR LLC boosted its holdings in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Proficio Capital Partners LLC boosted its holdings in The Cigna Group by 34,280.8% in the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after purchasing an additional 237,909 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after purchasing an additional 202,161 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred 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 sale, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CI. Oppenheimer reduced 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 report on Friday, January 31st. Piper Sandler reaffirmed 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. Sanford C. Bernstein downgraded 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 report on Thursday, February 6th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Two investment 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.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Trading Up 0.3 %

CI opened at $309.84 on Thursday. 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 stock has a market capitalization of $86.18 billion, a PE ratio of 25.31, a PEG ratio of 0.98 and a beta of 0.54. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a 50-day moving average price of $291.31 and a two-hundred day moving average price of $318.05.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 firm posted $6.79 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

The Cigna Group 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.