Davis R M Inc. Sells 150 Shares of The Cigna Group (NYSE:CI)

Davis R M Inc. trimmed its stake in shares of The Cigna Group (NYSE:CI) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 787 shares of the health services provider’s stock after selling 150 shares during the quarter. Davis R M Inc.’s holdings in The Cigna Group were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its position in The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares in the last quarter. Morgan Stanley boosted its holdings in shares of The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares in the last quarter. Norges Bank purchased a new position in shares of The Cigna Group in the 4th quarter worth about $1,006,348,000. Finally, Northern Trust Corp boosted its holdings in shares of The Cigna Group by 5.9% in the 3rd quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after purchasing an additional 181,385 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

The Cigna Group stock traded up $1.19 during trading on Thursday, reaching $337.66. The company had a trading volume of 101,336 shares, compared to its average volume of 1,576,153. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. The firm’s 50-day simple moving average is $351.62 and its 200 day simple moving average is $322.86. The firm has a market capitalization of $95.92 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.03 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $5.41 earnings per share. Sell-side analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity

In related news, CEO David Cordani sold 2,000 shares of The Cigna Group stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $345.04, for a total value of $690,080.00. Following the completion of the transaction, the chief executive officer now owns 336,783 shares in the company, valued at $116,203,606.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 2,000 shares of The Cigna Group stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $345.04, for a total transaction of $690,080.00. Following the sale, the chief executive officer now directly owns 336,783 shares of the company’s stock, valued at approximately $116,203,606.32. The disclosure for this sale can be found here. Insiders sold a total of 78,685 shares of company stock worth $27,622,407 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Cantor Fitzgerald upped their price target on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Wells Fargo & Company upped their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $366.14.

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.