Virtu Financial LLC Trims Stock Holdings in The Cigna Group (NYSE:CI)

Virtu Financial LLC lowered its holdings in The Cigna Group (NYSE:CI) by 35.5% in the fourth quarter, HoldingsChannel reports. The firm owned 11,083 shares of the health services provider’s stock after selling 6,090 shares during the period. Virtu Financial LLC’s holdings in The Cigna Group were worth $3,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quantbot Technologies LP boosted its holdings in The Cigna Group by 36.7% in the fourth quarter. Quantbot Technologies LP now owns 19,128 shares of the health services provider’s stock valued at $5,282,000 after purchasing an additional 5,137 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $118,000. Mindset Wealth Management LLC raised its stake 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 valued at $406,000 after buying an additional 37 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $66,000. Finally, Goodman Financial Corp raised its stake in The Cigna Group by 9.2% during the fourth quarter. Goodman Financial Corp now owns 44,658 shares of the health services provider’s stock valued at $12,332,000 after buying an additional 3,777 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 1.4 %

Shares of The Cigna Group stock opened at $316.78 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market capitalization of $86.70 billion, a P/E ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53. The business’s fifty day moving average price is $300.83 and its two-hundred day moving average price is $315.40. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 period last year, the firm earned $6.79 EPS. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analysts Forecast Growth

CI has been the topic of several research reports. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald increased their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday. 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 report on Friday, January 31st. Truist Financial cut their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $373.25.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction 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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on 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 completion of the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is owned by company insiders.

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.