Systematic Alpha Investments LLC Reduces Holdings in The Cigna Group (NYSE:CI)

Systematic Alpha Investments LLC cut its position in The Cigna Group (NYSE:CI) by 44.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,581 shares of the health services provider’s stock after selling 1,240 shares during the quarter. Systematic Alpha Investments LLC’s holdings in The Cigna Group were worth $437,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Sterling Financial Group Inc. acquired a new position in The Cigna Group in the 4th quarter valued at $4,367,000. Principal Financial Group Inc. boosted its holdings in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after acquiring an additional 858 shares during the period. Valley Wealth Managers Inc. raised its holdings in The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI stock opened at $338.76 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market capitalization of $92.71 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a 50 day moving average price of $308.16 and a 200 day moving average price of $313.31.

The Cigna Group (NYSE:CI) last issued its 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 quarter in the previous year, the company posted $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Insider Activity

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on 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 owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a filing 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. Over the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CI. Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. 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 decreased 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 report on Monday, February 3rd. Wells Fargo & Company dropped 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 report on Tuesday, February 4th. Finally, Barclays dropped their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $373.25.

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.