Haverford Trust Co Decreases Stake in The Cigna Group (NYSE:CI)

Haverford Trust Co trimmed its position in The Cigna Group (NYSE:CI) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,364 shares of the health services provider’s stock after selling 44 shares during the quarter. Haverford Trust Co’s holdings in The Cigna Group were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CI. CreativeOne Wealth LLC boosted its position in shares of The Cigna Group by 3.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its stake in The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares in the last quarter. Meridian Wealth Management LLC lifted its stake in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after buying an additional 37 shares in the last quarter. Mindset Wealth Management LLC increased its position in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after buying an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock worth $483,000 after buying an additional 38 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CI. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial decreased 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. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays decreased their target price 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, Raymond James reiterated a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Trading Up 1.3 %

Shares of CI stock opened at $320.79 on Tuesday. 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 fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm’s 50 day moving average price is $301.62 and its two-hundred day moving average price is $314.45. The stock has a market cap of $87.79 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate 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 last year, the business posted $6.79 EPS. On average, analysts anticipate that The Cigna Group will post 29.77 EPS 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 issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

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.