Cornercap Investment Counsel Inc. Has $1.15 Million Stock Holdings in The Cigna Group (NYSE:CI)

Cornercap Investment Counsel Inc. lowered its position in shares of The Cigna Group (NYSE:CI) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,158 shares of the health services provider’s stock after selling 185 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in The Cigna Group were worth $1,148,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC raised its stake in shares of The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in shares of The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares during the last quarter. Mindset Wealth Management LLC increased its stake in shares of The Cigna Group by 2.6% in 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. Finally, Jacobi Capital Management LLC lifted its position in The Cigna Group by 2.2% during the 4th 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 institutional investors.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’s 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 of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $324.97 on Friday. The stock has a 50 day simple moving average of $304.67 and a 200 day simple moving average of $314.08. The stock has a market cap of $88.94 billion, a P/E ratio of 26.55, a PEG 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 current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 quarter in the prior year, the business earned $6.79 EPS. Research analysts anticipate 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 was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Raymond James reissued a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Truist Financial lowered their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $373.25.

About The Cigna Group

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.