Boston Partners Sells 1,080,728 Shares of The Cigna Group (NYSE:CI)

Boston Partners reduced its position in shares of The Cigna Group (NYSE:CI) by 62.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 643,307 shares of the health services provider’s stock after selling 1,080,728 shares during the period. Boston Partners owned about 0.23% of The Cigna Group worth $177,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Generali Asset Management SPA SGR bought a new stake in shares of The Cigna Group during the fourth quarter worth about $7,201,000. Horizon Investments LLC grew its holdings in shares of The Cigna Group by 2.0% during the fourth quarter. Horizon Investments LLC now owns 4,850 shares of the health services provider’s stock worth $1,339,000 after purchasing an additional 93 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in shares of The Cigna Group during the fourth quarter worth about $2,536,000. Curio Wealth LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth about $112,000. Finally, TCTC Holdings LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth about $25,000. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The Cigna Group news, 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 value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Morgan Stanley cut their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reaffirmed 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. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Finally, UBS Group cut their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Up 1.7 %

Shares of NYSE:CI opened at $322.15 on Wednesday. The company has a market capitalization of $88.17 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 business has a fifty day moving average price of $298.39 and a two-hundred day moving average price of $315.64. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

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. Analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.