Northwest & Ethical Investments L.P. Sells 13,061 Shares of The Cigna Group (NYSE:CI)

Northwest & Ethical Investments L.P. reduced its stake in The Cigna Group (NYSE:CI) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,503 shares of the health services provider’s stock after selling 13,061 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in The Cigna Group were worth $14,498,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at about $25,000. Collier Financial bought a new stake in The Cigna Group in the fourth quarter worth about $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter worth about $34,000. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter worth about $37,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling at The Cigna Group

In related 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 transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, 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. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CI shares. Wells Fargo & Company decreased their price target on shares of 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. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Oppenheimer cut their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Piper Sandler restated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Stock Down 0.5 %

The Cigna Group stock opened at $320.74 on Thursday. The stock has a market cap of $87.78 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $299.23 and its two-hundred day moving average price is $315.68. 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 posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm earned $6.79 EPS. On average, analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

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.