Prudential PLC Sells 21,489 Shares of The Cigna Group (NYSE:CI)

Prudential PLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 48.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,933 shares of the health services provider’s stock after selling 21,489 shares during the quarter. Prudential PLC’s holdings in The Cigna Group were worth $6,333,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CI. TCTC Holdings LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the 4th quarter worth $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 4,904 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 $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CI shares. Cantor Fitzgerald lifted their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. UBS Group cut their price objective on shares of 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. 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 report on Friday, January 31st. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 29th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Price Performance

Shares of NYSE CI opened at $322.02 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’s 50 day moving average price is $308.72 and its two-hundred day moving average price is $313.00. The company has a market cap of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. 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 posted 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the business earned $6.79 EPS. On average, analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business 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 is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. The Cigna Group’s payout ratio is presently 49.35%.

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.