The Cigna Group (NYSE:CI) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. trimmed its position in The Cigna Group (NYSE:CI) by 6.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,900 shares of the health services provider’s stock after selling 4,700 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in The Cigna Group were worth $20,407,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $313,911,000. Amundi boosted its holdings in shares of The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares during the last quarter. Swedbank AB boosted its holdings in shares of The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after purchasing an additional 314,123 shares during the last quarter. FMR LLC boosted its holdings in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of The Cigna Group by 34,280.8% during the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after purchasing an additional 237,909 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI stock opened at $321.34 on Friday. 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 fifty day moving average price of $300.07 and a 200 day moving average price of $315.72. The company has a market cap of $87.94 billion, a P/E ratio of 26.25, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 quarter last year, the company posted $6.79 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction 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 in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’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 completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Sanford C. Bernstein lowered 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 report on Thursday, February 6th. Stephens reduced their price target on shares of 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $373.25.

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.