WBI Investments LLC Sells 11,881 Shares of The Cigna Group (NYSE:CI)

WBI Investments LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 88.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,617 shares of the health services provider’s stock after selling 11,881 shares during the quarter. WBI Investments LLC’s holdings in The Cigna Group were worth $446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP grew its position in shares of The Cigna Group by 32.6% during the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after buying an additional 188,235 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. boosted its position in The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Humankind Investments LLC boosted its position in The Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after purchasing an additional 571 shares in the last quarter. Finally, KBC Group NV boosted its position in The Cigna Group by 1.5% during the fourth quarter. KBC Group NV now owns 550,638 shares of the health services provider’s stock valued at $152,053,000 after purchasing an additional 8,077 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CI shares. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and set a $388.00 price objective (up previously from $384.00) on shares of The Cigna Group in a research report on Monday, May 5th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. UBS Group decreased their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price target on The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $379.33.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last ninety days. Company insiders own 0.70% of the company’s stock.

The Cigna Group Trading Up 0.2%

Shares of NYSE:CI opened at $321.70 on Tuesday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $85.94 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $325.22 and a 200-day moving average price of $309.91.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same period last year, the business posted $6.47 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

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.