Shelton Capital Management Trims Stock Position in The Cigna Group (NYSE:CI)

Shelton Capital Management cut its stake in shares of The Cigna Group (NYSE:CI) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,608 shares of the health services provider’s stock after selling 77 shares during the quarter. Shelton Capital Management’s holdings in The Cigna Group were worth $444,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sterling Financial Group Inc. acquired a new stake in shares of The Cigna Group during the fourth quarter worth $4,367,000. Principal Financial Group Inc. lifted its position in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares during the period. Valley Wealth Managers Inc. lifted its position in The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its position in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the period. 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 weighed in on CI shares. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Barclays cut 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 research note on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Guggenheim initiated coverage on shares of The Cigna Group in a research note on Wednesday. They set a “buy” rating and a $384.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $374.44.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 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 value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last 90 days. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $320.42 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 business has a 50-day moving average of $310.59 and a 200-day moving average of $311.62. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market capitalization of $87.69 billion, a P/E ratio of 26.18, a PEG ratio of 0.98 and a beta of 0.51.

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 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 firm posted $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was 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 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.