Campion Asset Management Sells 290 Shares of The Cigna Group (NYSE:CI)

Campion Asset Management lessened its position in The Cigna Group (NYSE:CI) by 16.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,510 shares of the health services provider’s stock after selling 290 shares during the period. Campion Asset Management’s holdings in The Cigna Group were worth $417,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CI. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $4,367,000. Principal Financial Group Inc. lifted its stake in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during 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 buying an additional 858 shares during the period. Valley Wealth Managers Inc. grew its stake in shares of 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 buying an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.7 %

NYSE CI opened at $329.52 on Monday. The stock’s 50 day moving average is $312.04 and its 200 day moving average is $311.07. 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 firm has a market capitalization of $90.18 billion, a PE ratio of 26.92, a P/E/G ratio of 0.98 and a beta of 0.51. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 EPS. Research analysts forecast 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 was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business’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 transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Piper Sandler restated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Wells Fargo & Company lowered 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. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, UBS Group lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $375.00.

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.