Enterprise Financial Services Corp Trims Position in The Cigna Group (NYSE:CI)

Enterprise Financial Services Corp cut its holdings in shares of The Cigna Group (NYSE:CI) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 874 shares of the health services provider’s stock after selling 40 shares during the period. Enterprise Financial Services Corp’s holdings in The Cigna Group were worth $241,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CI. Ruffer LLP grew its stake in The Cigna Group by 1.7% in the fourth quarter. Ruffer LLP now owns 601,066 shares of the health services provider’s stock worth $165,981,000 after purchasing an additional 10,302 shares during the period. OFI Invest Asset Management purchased a new stake in The Cigna Group in the fourth quarter worth $546,000. United Community Bank grew its stake in The Cigna Group by 65.1% in the fourth quarter. United Community Bank now owns 761 shares of the health services provider’s stock worth $210,000 after purchasing an additional 300 shares during the period. Amundi grew its stake in The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of The Cigna Group by 1,183.9% in the fourth quarter. Larson Financial Group LLC now owns 3,351 shares of the health services provider’s stock worth $925,000 after acquiring an additional 3,090 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CI. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald cut their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $372.31.

The Cigna Group Trading Up 1.9 %

Shares of NYSE CI opened at $321.48 on Friday. 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 $292.84 and a two-hundred day simple moving average of $317.71. The firm has a market cap of $87.98 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results 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 prior year, the business earned $6.79 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date is 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 dividend yield of 1.88%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 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 transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

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.