Northwest & Ethical Investments L.P. Sells 13,061 Shares of The Cigna Group (NYSE:CI)

Northwest & Ethical Investments L.P. trimmed its position in shares of The Cigna Group (NYSE:CI) by 19.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,503 shares of the health services provider’s stock after selling 13,061 shares during the period. Northwest & Ethical Investments L.P.’s holdings in The Cigna Group were worth $14,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB grew its stake in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after acquiring an additional 119,681 shares during the period. Prospera Financial Services Inc raised its holdings in shares of The Cigna Group by 9.2% in the 3rd quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider’s stock valued at $480,000 after acquiring an additional 116 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of The Cigna Group by 10.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,595 shares of the health services provider’s stock valued at $553,000 after acquiring an additional 157 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at about $8,202,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of The Cigna Group by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 362,339 shares of the health services provider’s stock valued at $125,529,000 after buying an additional 7,996 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI stock opened at $320.74 on Thursday. The stock’s 50-day moving average is $299.23 and its two-hundred day moving average is $315.68. The firm has a market cap of $87.78 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 Cigna Group (NYSE:CI) last released its quarterly earnings results 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 business posted $6.79 EPS. Analysts predict 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. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Cantor Fitzgerald lowered their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $372.31.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on 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 transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Company insiders own 0.60% of the company’s stock.

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.