GM Advisory Group LLC Cuts Stock Holdings in The Cigna Group (NYSE:CI)

GM Advisory Group LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,405 shares of the health services provider’s stock after selling 1,211 shares during the period. GM Advisory Group LLC’s holdings in The Cigna Group were worth $2,597,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CI. Swedbank AB raised its holdings in The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares in the last quarter. AMG National Trust Bank increased its holdings in The Cigna Group by 5.7% in the third quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider’s stock valued at $1,411,000 after buying an additional 218 shares in the last quarter. OneAscent Wealth Management LLC purchased a new position in The Cigna Group in the third quarter valued at about $358,000. OneAscent Financial Services LLC purchased a new position in The Cigna Group in the third quarter valued at about $454,000. Finally, Meeder Asset Management Inc. increased its holdings in The Cigna Group by 353.5% in the third quarter. Meeder Asset Management Inc. now owns 11,800 shares of the health services provider’s stock valued at $4,088,000 after buying an additional 9,198 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on CI shares. Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Oppenheimer dropped their target price 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. UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald dropped 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $372.31.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the insider now directly 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. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last quarter. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 1.7 %

Shares of NYSE CI opened at $322.15 on Wednesday. The firm has a market cap of $88.17 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The firm’s 50 day moving average price is $298.39 and its 200 day moving average price is $315.64. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

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

The Cigna Group Increases Dividend

The company also recently declared 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 is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.87%. The Cigna Group’s payout ratio is 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.