Groupama Asset Managment Lowers Stock Holdings in The Cigna Group (NYSE:CI)

Groupama Asset Managment lessened its stake in shares of The Cigna Group (NYSE:CI) by 46.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,522 shares of the health services provider’s stock after selling 7,280 shares during the period. Groupama Asset Managment’s holdings in The Cigna Group were worth $2,345,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. May Hill Capital LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth $248,000. Geode Capital Management LLC raised its holdings in shares of The Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock valued at $1,640,878,000 after acquiring an additional 101,737 shares in the last quarter. Nemes Rush Group LLC lifted its stake in The Cigna Group by 19.6% in the fourth quarter. Nemes Rush Group LLC now owns 3,883 shares of the health services provider’s stock worth $1,072,000 after acquiring an additional 637 shares during the period. National Bank of Canada FI grew its holdings in The Cigna Group by 26.6% during the 4th quarter. National Bank of Canada FI now owns 264,097 shares of the health services provider’s stock worth $72,931,000 after acquiring an additional 55,522 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its position in The Cigna Group by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 6,114 shares of the health services provider’s stock valued at $1,805,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was 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 owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CI shares. Barclays dropped their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald increased their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Trading Up 0.6 %

NYSE CI opened at $330.97 on Wednesday. The stock has a market cap of $90.58 billion, a P/E ratio of 27.04, a P/E/G ratio of 0.98 and a beta of 0.53. 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 Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a fifty day simple moving average of $306.43 and a two-hundred day simple moving average of $313.00.

The Cigna Group (NYSE:CI) last issued its quarterly 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 period last year, the firm posted $6.79 EPS. On average, analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.82%. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

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.