Intech Investment Management LLC Has $38.15 Million Holdings in The Cigna Group (NYSE:CI)

Intech Investment Management LLC lessened its stake in The Cigna Group (NYSE:CI) by 20.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 127,386 shares of the health services provider’s stock after selling 32,800 shares during the quarter. Intech Investment Management LLC’s holdings in The Cigna Group were worth $38,146,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CI. Fortitude Family Office LLC acquired a new stake in The Cigna Group during the 4th quarter valued at $29,000. VisionPoint Advisory Group LLC lifted its holdings in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Pacifica Partners Inc. lifted its holdings in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in The Cigna Group during the 4th quarter valued at $43,000. Finally, Northwest Financial Advisors acquired a new stake in The Cigna Group during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock traded down $5.22 during midday trading on Friday, reaching $332.61. The company’s stock had a trading volume of 1,311,594 shares, compared to its average volume of 1,632,541. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. 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 business has a 50-day moving average price of $350.99 and a 200-day moving average price of $323.34. The stock has a market cap of $94.48 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.57.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the previous year, the business posted $5.41 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that The Cigna Group will post 28.46 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CI shares. Wells Fargo & Company raised their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Oppenheimer increased their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Mizuho increased their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $366.14.

Insider Activity

In other news, CEO David Cordani sold 2,412 shares of The Cigna Group stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $345.73, for a total transaction of $833,900.76. Following the sale, the chief executive officer now directly owns 340,438 shares of the company’s stock, valued at $117,699,629.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Cordani sold 2,412 shares of The Cigna Group stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $345.73, for a total transaction of $833,900.76. Following the sale, the chief executive officer now directly owns 340,438 shares of the company’s stock, valued at $117,699,629.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,366 shares of company stock valued at $25,440,835. 0.60% of the stock is currently owned by corporate insiders.

About The Cigna Group

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.