The Cigna Group (NYSE:CI) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 40.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,080 shares of the health services provider’s stock after selling 4,720 shares during the period. Meeder Asset Management Inc.’s holdings in The Cigna Group were worth $1,955,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CI. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial purchased a new stake in The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the 4th quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.1 %

The Cigna Group stock opened at $324.97 on Monday. The firm has a market capitalization of $88.94 billion, a P/E ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock’s fifty day simple moving average is $304.67 and its 200-day simple moving average is $313.47.

The Cigna Group (NYSE:CI) last issued its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the company posted $6.79 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal 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 paid a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CI. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $373.25.

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.