Rockefeller Capital Management L.P. lessened its stake in shares of The Cigna Group (NYSE:CI – Free Report) by 22.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,097 shares of the health services provider’s stock after selling 13,628 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in The Cigna Group were worth $13,306,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kesler Norman & Wride LLC grew its holdings in shares of The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after purchasing an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its position in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after purchasing an additional 36 shares during the last quarter. Meridian Wealth Management LLC grew its stake 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 worth $1,013,000 after buying an additional 37 shares in the last quarter. Mindset Wealth Management LLC increased its holdings 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 worth $406,000 after buying an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of The Cigna Group by 2.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after buying an additional 38 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.
The Cigna Group Trading Down 0.2 %
CI opened at $328.44 on Wednesday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. 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 business has a 50 day simple moving average of $313.58 and a two-hundred day simple moving average of $311.06. The firm has a market capitalization of $89.89 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.98 and a beta of 0.51.
The Cigna Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.84%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.
Insider Buying and Selling
In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business’s 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 in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Analysts Set New Price Targets
CI has been the subject of several research reports. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Guggenheim initiated coverage on The Cigna Group in a research report on Wednesday, April 9th. They issued a “buy” rating and a $384.00 target price for the company. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Sanford C. Bernstein downgraded 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 research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $373.56.
Get Our Latest Research Report on The Cigna Group
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.
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