SPC Financial Inc. Lowers Holdings in The Cigna Group (NYSE:CI)

SPC Financial Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 42.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,831 shares of the health services provider’s stock after selling 2,095 shares during the quarter. SPC Financial Inc.’s holdings in The Cigna Group were worth $782,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Adero Partners LLC raised its stake in The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after buying an additional 34 shares in the last quarter. CreativeOne Wealth LLC raised its stake 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 valued at $422,000 after buying an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its stake in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares in the last quarter. Meridian Wealth Management LLC raised its stake in The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after buying an additional 37 shares in the last quarter. Finally, Smithfield Trust Co raised its stake in The Cigna Group by 3.6% in the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.3 %

CI stock opened at $309.84 on Thursday. The company has a market cap of $86.18 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $291.31 and a 200-day simple moving average of $318.05. 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 released 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company earned $6.79 EPS. On average, equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.95%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Raymond James reiterated 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down previously 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $372.31.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale 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 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 completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

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.