Envestnet Portfolio Solutions Inc. Sells 871 Shares of The Cigna Group (NYSE:CI)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 24,759 shares of the health services provider’s stock after selling 871 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in The Cigna Group were worth $6,837,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Adero Partners LLC raised its position in The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after purchasing an additional 34 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after acquiring an additional 35 shares during the period. Hudson Edge Investment Partners Inc. grew its holdings in shares of The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC grew its holdings in shares of The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after acquiring an additional 37 shares during the period. Finally, Smithfield Trust Co grew its holdings in shares of The Cigna Group by 3.6% during the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after acquiring an additional 38 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were 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 $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CI. Stephens reduced their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. Morgan Stanley cut their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group cut their price target 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. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Stock Performance

CI stock opened at $317.23 on Tuesday. The company has a market cap of $86.82 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 current ratio of 0.66 and a quick ratio of 0.72. The stock’s fifty day moving average price is $297.55 and its 200-day moving average price is $315.92.

The Cigna Group (NYSE:CI) last released its quarterly 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 in the previous year, the company earned $6.79 earnings per share. On average, equities 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 will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.90%. The Cigna Group’s payout ratio is 49.35%.

The Cigna Group Company 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.