O Shaughnessy Asset Management LLC Sells 26,180 Shares of The Cigna Group (NYSE:CI)

O Shaughnessy Asset Management LLC reduced its position in The Cigna Group (NYSE:CI) by 42.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,076 shares of the health services provider’s stock after selling 26,180 shares during the period. O Shaughnessy Asset Management LLC’s holdings in The Cigna Group were worth $9,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CI. CreativeOne Wealth LLC raised its position in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after acquiring an additional 35 shares during the period. Public Sector Pension Investment Board raised its holdings in The Cigna Group by 5.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock worth $4,020,000 after purchasing an additional 600 shares during the period. Captrust Financial Advisors lifted its position in The Cigna Group by 21.9% during the third quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock valued at $10,141,000 after purchasing an additional 5,262 shares in the last quarter. Erste Asset Management GmbH bought a new stake in The Cigna Group during the third quarter valued at about $17,630,000. Finally, Kestra Investment Management LLC increased its position in The Cigna Group by 51.7% in the third quarter. Kestra Investment Management LLC now owns 2,016 shares of the health services provider’s stock worth $698,000 after buying an additional 687 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 1.3 %

Shares of CI opened at $329.33 on Tuesday. 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 stock has a market capitalization of $90.13 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business’s 50 day simple moving average is $305.58 and its 200-day simple moving average is $313.24.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 company posted $6.79 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date of this dividend 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 1.83%. The Cigna Group’s dividend payout ratio is 49.35%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CI. Oppenheimer reduced their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Stephens lowered their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $373.25.

About The Cigna Group

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.