Pzena Investment Management LLC Sells 50,319 Shares of The Cigna Group (NYSE:CI)

Pzena Investment Management LLC trimmed its position in shares of The Cigna Group (NYSE:CI) by 9.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 491,459 shares of the health services provider’s stock after selling 50,319 shares during the quarter. Pzena Investment Management LLC’s holdings in The Cigna Group were worth $135,711,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CI. Collier Financial bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the third quarter valued at approximately $37,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CI. 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 on the stock. in a research note on Thursday, February 6th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. Oppenheimer cut their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $372.31.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on 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 directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $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. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Trading Up 1.8 %

CI opened at $326.87 on Tuesday. The firm’s fifty day moving average is $293.88 and its two-hundred day moving average is $317.40. 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 firm has a market cap of $89.46 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter last year, the business earned $6.79 earnings per share. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) 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.