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

LSV Asset Management reduced its stake in shares of The Cigna Group (NYSE:CI) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 653,160 shares of the health services provider’s stock after selling 39,780 shares during the quarter. LSV Asset Management’s holdings in The Cigna Group were worth $195,589,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of The Cigna Group in the third quarter worth about $731,041,000. FMR LLC increased its holdings in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after acquiring an additional 1,939,554 shares in the last quarter. Cerity Partners LLC increased its holdings in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after acquiring an additional 538,274 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position 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 valued at $3,385,282,000 after purchasing an additional 345,605 shares during the period. Finally, Jennison Associates LLC boosted its holdings in The Cigna Group by 127.3% in 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 period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI traded down $3.00 during midday trading on Friday, reaching $341.50. 2,413,548 shares of the company’s stock traded hands, compared to its average volume of 1,380,653. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The stock’s 50 day simple moving average is $350.77 and its 200-day simple moving average is $319.59. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a one year low of $240.50 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.41 EPS. On average, analysts predict that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer increased their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Barclays initiated coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $366.14.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on 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 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 The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric P. Palmer sold 6,083 shares of The Cigna Group stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now owns 44,649 shares of the company’s stock, valued at $15,180,660. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

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.