The Cigna Group (NYSE:CI) Stock Holdings Trimmed by Assetmark Inc.

Assetmark Inc. lessened its position in shares of The Cigna Group (NYSE:CI) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,196 shares of the health services provider’s stock after selling 13,860 shares during the period. Assetmark Inc. owned about 0.09% of The Cigna Group worth $70,194,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. boosted its holdings in The Cigna Group by 3.7% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 2,478 shares of the health services provider’s stock worth $684,000 after purchasing an additional 88 shares during the period. Victory Capital Management Inc. lifted its position in shares of The Cigna Group by 9.9% in the 4th quarter. Victory Capital Management Inc. now owns 544,268 shares of the health services provider’s stock worth $150,294,000 after buying an additional 48,865 shares during the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of The Cigna Group by 2.3% in the 4th quarter. Exencial Wealth Advisors LLC now owns 6,605 shares of the health services provider’s stock valued at $1,824,000 after buying an additional 148 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of The Cigna Group by 231.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 8,245 shares of the health services provider’s stock valued at $2,269,000 after buying an additional 5,758 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in The Cigna Group by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock worth $546,138,000 after acquiring an additional 64,138 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.8 %

Shares of CI stock opened at $308.90 on Wednesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The business’s fifty day moving average is $290.71 and its 200-day moving average is $318.11. The stock has a market cap of $85.92 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 business earned $6.79 EPS. Equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley decreased their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald lowered their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $372.31.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently 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.