The Cigna Group (NYSE:CI) Stock Position Decreased by Prudential PLC

Prudential PLC decreased its position in The Cigna Group (NYSE:CI) by 48.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,933 shares of the health services provider’s stock after selling 21,489 shares during the quarter. Prudential PLC’s holdings in The Cigna Group were worth $6,333,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Unison Advisors LLC increased its stake in shares of The Cigna Group by 0.4% during the 4th quarter. Unison Advisors LLC now owns 12,394 shares of the health services provider’s stock worth $3,422,000 after purchasing an additional 48 shares during the last quarter. ExodusPoint Capital Management LP increased its position in The Cigna Group by 106.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 22,616 shares of the health services provider’s stock worth $6,245,000 after buying an additional 11,641 shares during the last quarter. World Investment Advisors raised its holdings in The Cigna Group by 115.7% during the fourth quarter. World Investment Advisors now owns 3,495 shares of the health services provider’s stock valued at $965,000 after buying an additional 1,875 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in shares of The Cigna Group by 6.3% in the fourth quarter. Nicolet Advisory Services LLC now owns 938 shares of the health services provider’s stock worth $262,000 after buying an additional 56 shares during the last quarter. Finally, Disciplined Investors L.L.C. bought a new stake in shares of The Cigna Group during the 4th quarter worth about $262,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the company’s 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 $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $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. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last three months. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CI. Cantor Fitzgerald upped their target price 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. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Finally, Piper Sandler reiterated 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. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Stock Performance

NYSE:CI opened at $322.02 on Friday. The firm has a market capitalization of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a 50-day moving average price of $308.72 and a 200 day moving average price of $313.00.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 period in the prior year, the company posted $6.79 EPS. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal 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 paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. 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.