Alpha Cubed Investments LLC Decreases Position in The Cigna Group (NYSE:CI)

Alpha Cubed Investments LLC cut its stake in The Cigna Group (NYSE:CI) by 24.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,370 shares of the health services provider’s stock after selling 441 shares during the quarter. Alpha Cubed Investments LLC’s holdings in The Cigna Group were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Parnassus Investments LLC purchased a new position in The Cigna Group in the 3rd quarter worth approximately $731,041,000. FMR LLC increased its holdings in shares of The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after buying an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after buying an additional 317,081 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 over the last ninety days. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $349.02 on Wednesday. The stock has a market cap of $102.04 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The company has a fifty day simple moving average of $350.50 and a 200-day simple moving average of $318.94. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 EPS. Equities analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CI. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Wells Fargo & Company lifted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $362.14.

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.