Jupiter Asset Management Ltd. Cuts Stock Position in The Cigna Group (NYSE:CI)

Jupiter Asset Management Ltd. cut its holdings in The Cigna Group (NYSE:CI) by 88.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,966 shares of the health services provider’s stock after selling 176,732 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in The Cigna Group were worth $6,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Collier Financial purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $34,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the third quarter worth approximately $37,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

CI opened at $311.61 on Friday. The stock’s 50-day moving average price is $296.14 and its 200 day moving average price is $317.06. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market cap of $85.28 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted 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 last year, the business posted $6.79 EPS. As a group, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,375 shares of company stock valued at $12,866,600. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CI. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Stephens lowered their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald lowered their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $372.31.

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.