Groupama Asset Managment Lowers Position in The Cigna Group (NYSE:CI)

Groupama Asset Managment cut its holdings in The Cigna Group (NYSE:CI) by 46.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,522 shares of the health services provider’s stock after selling 7,280 shares during the period. Groupama Asset Managment’s holdings in The Cigna Group were worth $2,345,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. TCTC Holdings LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $25,000. Collier Financial bought a new position in The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the fourth quarter valued at about $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter valued at $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Elder Granger sold 2,376 shares of The Cigna Group 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 completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % 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 over the last ninety days. 0.70% of the stock is owned by insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $330.97 on Wednesday. The company has a market cap of $90.58 billion, a price-to-earnings ratio of 27.04, a PEG 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 stock’s 50 day simple moving average is $306.43 and its two-hundred day simple moving average is $313.00. 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 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 anticipate 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.82%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Ratings Changes

CI has been the topic of several research analyst reports. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a 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 note on Thursday, February 6th. Barclays decreased their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $373.25.

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.