Adams Diversified Equity Fund Inc. Sells 4,700 Shares of The Cigna Group (NYSE:CI)

Adams Diversified Equity Fund Inc. lowered its position in The Cigna Group (NYSE:CI) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,900 shares of the health services provider’s stock after selling 4,700 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in The Cigna Group were worth $20,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Goodman Financial Corp grew its stake in The Cigna Group by 9.2% in the fourth quarter. Goodman Financial Corp now owns 44,658 shares of the health services provider’s stock worth $12,332,000 after purchasing an additional 3,777 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in The Cigna Group during the 4th quarter valued at $895,000. Teacher Retirement System of Texas boosted its position in The Cigna Group by 42.6% during the 4th quarter. Teacher Retirement System of Texas now owns 155,253 shares of the health services provider’s stock valued at $42,872,000 after acquiring an additional 46,354 shares in the last quarter. Generali Investments Management Co LLC bought a new stake in The Cigna Group during the 4th quarter valued at $635,000. Finally, Vinva Investment Management Ltd boosted its position in The Cigna Group by 19.0% during the 4th quarter. Vinva Investment Management Ltd now owns 13,974 shares of the health services provider’s stock valued at $3,845,000 after acquiring an additional 2,228 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $321.34 on Friday. The business has a fifty day moving average of $300.07 and a 200 day moving average of $315.72. The firm has a market capitalization of $87.94 billion, a price-to-earnings ratio of 26.25, 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 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 data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period in the previous year, the business posted $6.79 EPS. As a group, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current 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 paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. 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 presently 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the firm’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 $8,173,499.24. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 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 $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler reaffirmed 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. UBS Group dropped their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Cantor Fitzgerald increased their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.