Envestnet Asset Management Inc. Sells 18,137 Shares of The Cigna Group (NYSE:CI)

Envestnet Asset Management Inc. decreased its stake in The Cigna Group (NYSE:CI) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 299,328 shares of the health services provider’s stock after selling 18,137 shares during the period. Envestnet Asset Management Inc.’s holdings in The Cigna Group were worth $82,656,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kesler Norman & Wride LLC raised its stake in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after acquiring an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after buying an additional 36 shares in the last quarter. Meridian Wealth Management LLC boosted its position in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after buying an additional 37 shares during the last quarter. Mindset Wealth Management LLC increased its stake in shares of The Cigna Group by 2.6% in the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after buying an additional 37 shares during the period. Finally, Jacobi Capital Management LLC raised its position in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock worth $483,000 after acquiring an additional 38 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Down 0.7 %

NYSE CI opened at $313.06 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock’s 50-day moving average is $309.30 and its 200-day moving average is $311.80. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $85.68 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the company earned $6.79 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.93%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analyst Ratings Changes

CI has been the subject of several recent research reports. Sanford C. Bernstein cut 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. Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Barclays reduced their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $373.25.

Insiders Place Their Bets

In related news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction 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. This trade represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company’s stock.

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.