The Cigna Group (NYSE:CI) Shares Sold by Trexquant Investment LP

Trexquant Investment LP lowered its holdings in The Cigna Group (NYSE:CI) by 32.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,633 shares of the health services provider’s stock after selling 8,039 shares during the period. Trexquant Investment LP’s holdings in The Cigna Group were worth $4,593,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. May Hill Capital LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth about $248,000. Geode Capital Management LLC increased its position in The Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after purchasing an additional 101,737 shares during the last quarter. Nemes Rush Group LLC increased its position in The Cigna Group by 19.6% during the fourth quarter. Nemes Rush Group LLC now owns 3,883 shares of the health services provider’s stock worth $1,072,000 after purchasing an additional 637 shares during the last quarter. National Bank of Canada FI raised its stake in The Cigna Group by 26.6% during the fourth quarter. National Bank of Canada FI now owns 264,097 shares of the health services provider’s stock worth $72,931,000 after purchasing an additional 55,522 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of The Cigna Group by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 6,114 shares of the health services provider’s stock valued at $1,805,000 after purchasing an additional 49 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated 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 sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This 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 this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CI. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 29th. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Stock Performance

Shares of CI opened at $322.02 on Friday. The firm has a market cap of $88.13 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.98 and a beta of 0.50. 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 business’s 50 day moving average is $308.72 and its two-hundred day moving average is $312.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 firm earned $6.79 earnings per share. Analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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