D L Carlson Investment Group Inc. Cuts Position in The Cigna Group (NYSE:CI)

D L Carlson Investment Group Inc. cut its holdings in shares of The Cigna Group (NYSE:CI) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,439 shares of the health services provider’s stock after selling 814 shares during the period. D L Carlson Investment Group Inc.’s holdings in The Cigna Group were worth $2,330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CI. Wellington Management Group LLP increased its holdings in shares of The Cigna Group by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider’s stock valued at $4,658,000 after acquiring an additional 1,689 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new position in The Cigna Group in the fourth quarter valued at approximately $730,000. RWA Wealth Partners LLC increased its position in shares of The Cigna Group by 2.2% in the 4th quarter. RWA Wealth Partners LLC now owns 3,127 shares of the health services provider’s stock valued at $863,000 after buying an additional 67 shares in the last quarter. Allianz SE acquired a new position in The Cigna Group in the 4th quarter worth $6,902,000. Finally, Allstate Corp bought a new stake in The Cigna Group during the fourth quarter worth about $2,293,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CI shares. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Trading Up 0.1 %

Shares of CI opened at $324.97 on Monday. The stock’s 50-day moving average price is $304.67 and its 200 day moving average price is $313.47. 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 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $88.94 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted 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 period in the prior year, the company posted $6.79 EPS. As a group, research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.86%. The Cigna Group’s payout ratio is presently 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % 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 valued at $13,603,991 in the last quarter. 0.70% of the stock is currently owned by insiders.

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.