EverSource Wealth Advisors LLC Decreases Holdings in The Cigna Group (NYSE:CI)

EverSource Wealth Advisors LLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 897 shares of the health services provider’s stock after selling 54 shares during the period. EverSource Wealth Advisors LLC’s holdings in The Cigna Group were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Collier Financial purchased a new stake in The Cigna Group during the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $34,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the third quarter worth approximately $37,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group in the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.4 %

NYSE CI opened at $313.35 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market cap of $85.76 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 0.98 and a beta of 0.53. The firm has a 50 day simple moving average of $296.79 and a 200-day simple moving average of $316.52. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 business posted $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. The Cigna Group’s payout ratio is currently 49.35%.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated 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 transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,375 shares of company stock worth $12,866,600. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CI. Morgan Stanley reduced their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald cut their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Oppenheimer lowered their price objective 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. Two research 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 company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $372.31.

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.