Tradewinds LLC. Sells 13,988 Shares of The Cigna Group (NYSE:CI)

Tradewinds LLC. reduced its position in The Cigna Group (NYSE:CI) by 94.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 858 shares of the health services provider’s stock after selling 13,988 shares during the period. Tradewinds LLC.’s holdings in The Cigna Group were worth $251,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Sterling Financial Group Inc. bought a new position in shares of The Cigna Group in the fourth quarter valued at $4,367,000. Principal Financial Group Inc. lifted its position in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares during the last quarter. Valley Wealth Managers Inc. increased its holdings in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after purchasing an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $330.97 on Wednesday. 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 stock has a fifty day simple moving average of $306.43 and a two-hundred day simple moving average of $313.00. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market cap of $90.58 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted 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 prior year, the company posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.82%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 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 transaction 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. This represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. 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. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CI shares. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler reiterated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Morgan Stanley cut their price target 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, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $373.25.

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.