Thoroughbred Financial Services LLC Has $1.65 Million Stake in The Cigna Group (NYSE:CI)

Thoroughbred Financial Services LLC lessened its holdings in shares of The Cigna Group (NYSE:CI) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,973 shares of the health services provider’s stock after selling 627 shares during the period. Thoroughbred Financial Services LLC’s holdings in The Cigna Group were worth $1,649,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC bought a new position in The Cigna Group during the 4th quarter worth $25,000. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the fourth quarter valued at about $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the fourth quarter worth about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $53,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CI shares. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial reduced their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 29th. 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. Finally, Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $373.25.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $322.02 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 Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market cap 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 firm’s fifty day moving average is $308.72 and its 200-day moving average is $313.00.

The Cigna Group (NYSE:CI) last announced 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 period in the prior year, the business earned $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. 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. This represents a $6.04 annualized dividend and a yield of 1.88%. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.