The Cigna Group (NYSE:CI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in The Cigna Group (NYSE:CI) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 299,328 shares of the health services provider’s stock after selling 18,137 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of The Cigna Group worth $82,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in 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 worth $3,191,151,000 after purchasing an additional 501,320 shares during the period. Geode Capital Management LLC boosted its position in shares of The Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after buying an additional 101,737 shares during the period. GQG Partners LLC boosted its position in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after buying an additional 737,099 shares during the period. Norges Bank purchased a new position in shares of The Cigna Group during the fourth quarter valued at $867,785,000. Finally, Franklin Resources Inc. raised its position in The Cigna Group by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider’s stock valued at $808,323,000 after buying an additional 286,515 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.7 %

The Cigna Group stock opened at $313.06 on Wednesday. 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 Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a fifty day moving average price of $309.30 and a two-hundred day moving average price of $311.80. The firm has a market cap of $85.68 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 firm posted $6.79 EPS. As a group, analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value 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. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last ninety days. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial lowered their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Barclays lowered their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group lowered their target price on 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 investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $373.25.

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.