Aviva PLC Sells 65,269 Shares of The Cigna Group (NYSE:CI)

Aviva PLC reduced its holdings in The Cigna Group (NYSE:CI) by 27.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,354 shares of the health services provider’s stock after selling 65,269 shares during the quarter. Aviva PLC owned 0.06% of The Cigna Group worth $46,489,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its stake in The Cigna Group by 4.5% during 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 in the last quarter. Geode Capital Management LLC increased its position in shares of The Cigna Group by 1.7% during 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 acquiring an additional 101,737 shares in the last quarter. GQG Partners LLC raised its holdings in shares of The Cigna Group by 22.4% during 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 acquiring an additional 737,099 shares during the period. Norges Bank bought a new stake in The Cigna Group in the 4th quarter valued at $867,785,000. Finally, Franklin Resources Inc. boosted its stake in The Cigna Group by 10.8% in the 4th quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider’s stock worth $808,323,000 after purchasing an additional 286,515 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 4.9 %

Shares of The Cigna Group stock opened at $322.02 on Friday. 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 business has a fifty day simple moving average of $308.72 and a two-hundred day simple moving average of $312.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $88.13 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 0.98 and a beta of 0.50.

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 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 quarter in the prior year, the company posted $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued 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 1.88%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In related news, 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 value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CI. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 29th. Oppenheimer cut their target price on 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. Morgan Stanley lowered their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial lowered their price target on shares of 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. Two research 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $373.25.

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.