The Cigna Group (NYSE:CI) Stake Lowered by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in The Cigna Group (NYSE:CI) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,459 shares of the health services provider’s stock after selling 50,319 shares during the period. Pzena Investment Management LLC owned approximately 0.18% of The Cigna Group worth $135,711,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CI. Collier Financial bought a new stake in The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter worth $34,000. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter worth $37,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group in the fourth quarter worth $53,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 1.8 %

Shares of CI opened at $326.87 on Tuesday. The company has a 50-day simple moving average of $293.88 and a 200-day simple moving average of $317.40. The firm has a market capitalization of $89.46 billion, a P/E ratio of 26.71, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 last year, the business posted $6.79 EPS. On average, equities research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.85%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CI shares. Truist Financial decreased their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $372.31.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,511,020.48. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

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.