Envestnet Portfolio Solutions Inc. Sells 871 Shares of The Cigna Group (NYSE:CI)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of The Cigna Group (NYSE:CI) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,759 shares of the health services provider’s stock after selling 871 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in The Cigna Group were worth $6,837,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Choate Investment Advisors raised its stake in shares of The Cigna Group by 1.5% in the fourth quarter. Choate Investment Advisors now owns 6,923 shares of the health services provider’s stock valued at $1,912,000 after buying an additional 99 shares during the period. Montis Financial LLC bought a new stake in shares of The Cigna Group in the fourth quarter valued at $225,000. Brandes Investment Partners LP raised its stake in shares of The Cigna Group by 20.4% in the fourth quarter. Brandes Investment Partners LP now owns 623,494 shares of the health services provider’s stock valued at $172,172,000 after buying an additional 105,430 shares during the period. Hills Bank & Trust Co raised its stake in shares of The Cigna Group by 2.6% in the fourth quarter. Hills Bank & Trust Co now owns 1,959 shares of the health services provider’s stock valued at $541,000 after buying an additional 49 shares during the period. Finally, Intact Investment Management Inc. raised its stake in shares of The Cigna Group by 550.0% in the fourth quarter. Intact Investment Management Inc. now owns 1,300 shares of the health services provider’s stock valued at $359,000 after buying an additional 1,100 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CI shares. Cantor Fitzgerald lowered their target price 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. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Stephens reduced their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Price Performance

CI opened at $317.23 on Tuesday. The stock has a 50-day moving average price of $297.55 and a 200-day moving average price of $315.92. 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 stock has a market capitalization of $86.82 billion, a P/E ratio of 25.92, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm earned $6.79 earnings per share. Equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.60% of the company’s stock.

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.