National Bank of Canada FI Cuts Stake in The Cigna Group (NYSE:CI)

National Bank of Canada FI lessened its stake in The Cigna Group (NYSE:CI) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,543 shares of the health services provider’s stock after selling 24,710 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of The Cigna Group worth $70,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roman Butler Fullerton & Co. boosted its holdings in shares of The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares during the last quarter. Ellsworth Advisors LLC bought a new position in The Cigna Group during the fourth quarter valued at approximately $4,377,000. Sapient Capital LLC purchased a new position in The Cigna Group during the 4th quarter valued at approximately $2,811,000. Allspring Global Investments Holdings LLC increased its stake in The Cigna Group by 29.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after acquiring an additional 66,891 shares during the last quarter. Finally, Accurate Wealth Management LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth approximately $2,244,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.9 %

Shares of CI traded down $3.00 during mid-day trading on Friday, hitting $341.50. The company’s stock had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The firm has a market capitalization of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The company’s 50-day moving average is $350.77 and its 200-day moving average is $319.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.41 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Transactions at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock valued at $39,296,330. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CI. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Oppenheimer increased their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley reissued an “overweight” rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, Cantor Fitzgerald boosted their target price on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $366.14.

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.