Sei Investments Co. Cuts Holdings in The Cigna Group (NYSE:CI)

Sei Investments Co. decreased its position in The Cigna Group (NYSE:CI – Get Rating) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,260 shares of the health services provider’s stock after selling 123,386 shares during the period. Sei Investments Co.’s holdings in The Cigna Group were worth $59,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Archer Investment Corp grew its stake in The Cigna Group by 469.2% during the 4th quarter. Archer Investment Corp now owns 74 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 61 shares in the last quarter. Pacifica Partners Inc. grew its stake in The Cigna Group by 95.2% during the 4th quarter. Pacifica Partners Inc. now owns 82 shares of the health services provider’s stock valued at $27,000 after acquiring an additional 40 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new stake in The Cigna Group during the 4th quarter valued at about $30,000. Iron Horse Wealth Management LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $40,000. Finally, WFA of San Diego LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 20,148 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $294.06, for a total value of $5,924,720.88. Following the transaction, the chief executive officer now directly owns 120,496 shares of the company’s stock, valued at approximately $35,433,053.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Donna F. Zarcone sold 757 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $253.29, for a total transaction of $191,740.53. Following the completion of the sale, the director now owns 25,558 shares in the company, valued at approximately $6,473,585.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 20,148 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $294.06, for a total transaction of $5,924,720.88. Following the sale, the chief executive officer now owns 120,496 shares of the company’s stock, valued at approximately $35,433,053.76. The disclosure for this sale can be found here. Insiders have sold 28,509 shares of company stock valued at $8,200,219 in the last ninety days. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CI shares. SVB Securities dropped their price objective on shares of The Cigna Group from $335.00 to $309.00 in a research note on Wednesday, February 8th. Cantor Fitzgerald began coverage on shares of The Cigna Group in a report on Thursday, April 20th. They issued a “neutral” rating and a $285.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $348.00 to $310.00 in a report on Monday, May 8th. Wells Fargo & Company decreased their target price on shares of The Cigna Group from $355.00 to $284.00 in a report on Monday, May 8th. Finally, SVB Leerink boosted their target price on shares of The Cigna Group from $309.00 to $335.00 and gave the company a “market perform” rating in a report on Wednesday, February 8th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $329.00.

The Cigna Group Stock Down 0.2 %

Shares of NYSE:CI traded down $0.52 during trading hours on Friday, reaching $246.55. The stock had a trading volume of 261,300 shares, compared to its average volume of 1,757,709. The Cigna Group has a 1 year low of $240.11 and a 1 year high of $340.11. The firm’s 50 day moving average is $258.32 and its 200-day moving average is $292.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $72.95 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.90 and a beta of 0.62.

The Cigna Group (NYSE:CI – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The health services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.18. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The company had revenue of $46.52 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the firm posted $6.01 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts predict that The Cigna Group will post 24.8 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Wednesday, June 7th will be given a $1.23 dividend. This represents a $4.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, June 6th. The Cigna Group’s dividend payout ratio (DPR) is 22.42%.

The Cigna Group Profile

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.