LSV Asset Management Reduces Stock Position in The Cigna Group (NYSE:CI)

LSV Asset Management trimmed its holdings in The Cigna Group (NYSE:CI) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 598,710 shares of the health services provider’s stock after selling 26,750 shares during the period. LSV Asset Management’s holdings in The Cigna Group were worth $165,328,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in The Cigna Group during the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group in the 4th quarter worth approximately $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CI has been the subject of several research analyst reports. UBS Group reduced their target price on 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. Cantor Fitzgerald raised their price target on 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 target on The Cigna Group in a report on Friday, January 31st. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company decreased their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $374.44.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % 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 over the last ninety days. Company insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $320.42 on Thursday. 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 company has a market capitalization of $87.69 billion, a P/E ratio of 26.18, a P/E/G ratio of 0.98 and a beta of 0.51. The company’s 50-day simple moving average is $310.59 and its two-hundred day simple moving average is $311.62. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 in the previous year, the firm posted $6.79 EPS. As a group, 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is an increase 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 1.89%. The Cigna Group’s payout ratio is 49.35%.

The Cigna Group Company 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.