CoreCap Advisors LLC Cuts Holdings in The Cigna Group (NYSE:CI)

CoreCap Advisors LLC lessened its stake in The Cigna Group (NYSE:CI) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942 shares of the health services provider’s stock after selling 172 shares during the period. CoreCap Advisors LLC’s holdings in The Cigna Group were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Massachusetts Financial Services Co. MA boosted its stake in shares of The Cigna Group by 4.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after purchasing an additional 501,320 shares in the last quarter. Sanders Capital LLC boosted its stake in shares of The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of The Cigna Group by 1.7% in the 4th 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 purchasing an additional 101,737 shares in the last quarter. GQG Partners LLC boosted its stake in shares of The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank purchased a new stake in The Cigna Group during the 4th quarter valued at $867,785,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.2%

Shares of The Cigna Group stock opened at $333.79 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a 50-day moving average of $325.84 and a 200 day moving average of $310.01. The firm has a market cap of $89.17 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The Cigna Group’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business earned $6.47 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CI. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Piper Sandler increased their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Truist Financial increased their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Mizuho increased their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $378.22.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by insiders.

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.