PDS Planning Inc Cuts Position in The Cigna Group (NYSE:CI)

PDS Planning Inc lowered its position in shares of The Cigna Group (NYSE:CI) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,128 shares of the health services provider’s stock after selling 294 shares during the period. PDS Planning Inc’s holdings in The Cigna Group were worth $637,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CI. Bogart Wealth LLC boosted its holdings in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management acquired a new position in shares of The Cigna Group during the third quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at $29,000. VisionPoint Advisory Group LLC boosted its holdings in shares of The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its holdings in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

The Cigna Group stock traded up $0.76 during trading hours on Tuesday, reaching $353.94. 283,429 shares of the company were exchanged, compared to its average volume of 1,582,443. The firm has a market cap of $103.48 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.08 and a beta of 0.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $348.73 and a 200 day moving average of $316.39. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. During the same period in the previous year, the company earned $4.96 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio is presently 32.20%.

Analyst Ratings Changes

Several brokerages have commented on CI. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Wednesday, April 10th. Morgan Stanley restated an “overweight” rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $362.14.

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.