The Cigna Group (NYSE:CI) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its stake in shares of The Cigna Group (NYSE:CI) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,511 shares of the health services provider’s stock after selling 1,487 shares during the period. Elo Mutual Pension Insurance Co’s holdings in The Cigna Group were worth $7,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CreativeOne Wealth LLC increased its stake in shares of The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after purchasing an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its stake in The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after buying an additional 36 shares in the last quarter. Meridian Wealth Management LLC raised its holdings in shares of The Cigna Group by 1.0% during 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 acquiring an additional 37 shares during the last quarter. Mindset Wealth Management LLC lifted its position in shares of The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after acquiring an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock worth $483,000 after purchasing an additional 38 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI opened at $324.74 on Friday. The firm has a 50-day simple moving average of $303.86 and a two-hundred day simple moving average of $314.31. The stock has a market cap of $88.88 billion, a PE ratio of 26.53, a P/E/G 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 announced its 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 period in the previous year, the business posted $6.79 earnings per share. As a group, analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. UBS Group cut their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average target price of $373.25.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last three months. 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.