Thoroughbred Financial Services LLC Sells 627 Shares of The Cigna Group (NYSE:CI)

Thoroughbred Financial Services LLC trimmed its position in The Cigna Group (NYSE:CI) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,973 shares of the health services provider’s stock after selling 627 shares during the period. Thoroughbred Financial Services LLC’s holdings in The Cigna Group were worth $1,649,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $867,785,000. Raymond James Financial Inc. acquired a new stake in The Cigna Group in the 4th quarter valued at $313,911,000. GQG Partners LLC increased its stake in The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after buying an additional 501,320 shares during the last quarter. Finally, Amundi lifted its stake in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after buying an additional 374,865 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the 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 completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Price Performance

The Cigna Group stock opened at $322.02 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The business’s 50 day simple moving average is $308.72 and its 200 day simple moving average is $313.00. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $88.13 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.98 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 firm posted $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. 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 dividend payout ratio (DPR) is presently 49.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CI. Truist Financial decreased their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. UBS Group cut 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. Sanford C. Bernstein cut 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 note on Thursday, February 6th. Finally, Wells Fargo & Company reduced their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Company 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.