Elo Mutual Pension Insurance Co Sells 1,487 Shares of The Cigna Group (NYSE:CI)

Elo Mutual Pension Insurance Co lowered its position in shares of The Cigna Group (NYSE:CI) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CreativeOne Wealth LLC boosted its position in The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. boosted its position in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC grew its stake in The Cigna Group by 1.0% in 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 purchasing an additional 37 shares during the last quarter. Mindset Wealth Management LLC raised its holdings in 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 worth $406,000 after purchasing an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted 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 valued at $483,000 after buying an additional 38 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, UBS Group reduced 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. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $373.25.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the business’s 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 directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.60% of the stock is currently owned by insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $324.74 on Friday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 company has a market cap of $88.88 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company’s 50 day moving average is $303.86 and its 200 day moving average is $314.31.

The Cigna Group (NYSE:CI) last issued its 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 in the previous year, the firm posted $6.79 EPS. On average, sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

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.