The Cigna Group (NYSE:CI) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. decreased its stake in The Cigna Group (NYSE:CI) by 68.6% during the 4th quarter, Holdings Channel reports. The firm owned 164 shares of the health services provider’s stock after selling 358 shares during the quarter. Logan Capital Management Inc.’s holdings in The Cigna Group were worth $45,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Jefferies Financial Group Inc. lifted its stake in shares of The Cigna Group by 184.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 20,037 shares of the health services provider’s stock worth $5,533,000 after buying an additional 13,001 shares in the last quarter. Humankind Investments LLC lifted its stake in shares of The Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after buying an additional 571 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of The Cigna Group by 48.7% in the fourth quarter. Gotham Asset Management LLC now owns 74,820 shares of the health services provider’s stock worth $20,661,000 after buying an additional 24,508 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of The Cigna Group by 11.6% in the fourth quarter. Focus Partners Wealth now owns 23,808 shares of the health services provider’s stock worth $6,579,000 after buying an additional 2,483 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in shares of The Cigna Group by 17.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 400,921 shares of the health services provider’s stock worth $110,710,000 after buying an additional 59,587 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 4.4%

NYSE CI opened at $301.90 on Wednesday. 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 Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market capitalization of $80.65 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The firm has a 50 day moving average of $325.67 and a two-hundred day moving average of $309.94.

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

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 2.00%. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Insider Activity at The Cigna Group

In other The Cigna Group news, 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 in the company, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 in the last 90 days. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CI. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Oppenheimer reduced their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Finally, UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average target price of $379.33.

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.