The Cigna Group (NYSE:CI) Stock Position Lessened by Systematic Alpha Investments LLC

Systematic Alpha Investments LLC reduced its stake in shares of The Cigna Group (NYSE:CI) by 44.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,581 shares of the health services provider’s stock after selling 1,240 shares during the quarter. Systematic Alpha Investments LLC’s holdings in The Cigna Group were worth $437,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kesler Norman & Wride LLC lifted its holdings in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after purchasing an additional 36 shares during the last quarter. Meridian Wealth Management LLC raised its holdings in shares of The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares in the last quarter. Mindset Wealth Management LLC lifted its stake in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after purchasing an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in 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 buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CI shares. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 29th. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Finally, Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $338.76 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 company has a market cap of $92.71 billion, a P/E ratio of 27.68, a P/E/G ratio of 0.98 and a beta of 0.50. The business’s 50 day moving average is $308.16 and its two-hundred day moving average is $313.31.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $6.79 earnings per share. On average, equities analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% 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.