AIA Group Ltd Sells 209 Shares of The Cigna Group (NYSE:CI)

AIA Group Ltd lowered its holdings in shares of The Cigna Group (NYSE:CI) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,757 shares of the health services provider’s stock after selling 209 shares during the period. AIA Group Ltd’s holdings in The Cigna Group were worth $1,037,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of The Cigna Group in the fourth quarter worth about $867,785,000. Raymond James Financial Inc. purchased a new position in The Cigna Group in the 4th quarter worth approximately $313,911,000. GQG Partners LLC lifted its position in The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Amundi boosted its stake in shares of The Cigna Group by 19.9% during the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after purchasing an additional 374,865 shares during the period. Finally, Swedbank AB grew its holdings in shares of The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after purchasing an additional 314,123 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CI has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Barclays lowered their price target 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. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $373.25.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’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 completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $329.33 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 stock has a market cap of $90.13 billion, a P/E ratio of 26.91, a P/E/G ratio of 0.98 and a beta of 0.53. The business’s 50 day moving average price is $305.58 and its 200-day moving average price is $313.24. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

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

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. The ex-dividend date of this dividend 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 yield of 1.83%. The Cigna Group’s dividend payout ratio is 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.