Weatherly Asset Management L. P. Decreases Holdings in The Cigna Group (NYSE:CI)

Weatherly Asset Management L. P. cut its stake in The Cigna Group (NYSE:CI – Get Rating) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,354 shares of the health services provider’s stock after selling 54 shares during the quarter. Weatherly Asset Management L. P.’s holdings in The Cigna Group were worth $449,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Axiom Financial Strategies LLC acquired a new position in shares of The Cigna Group during the first quarter worth $212,000. Fairfield Bush & CO. purchased a new stake in The Cigna Group during the 1st quarter worth $40,000. Cibc World Market Inc. lifted its holdings in The Cigna Group by 52.6% in the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock worth $4,547,000 after buying an additional 6,538 shares in the last quarter. Vontobel Holding Ltd. boosted its position in The Cigna Group by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after buying an additional 566 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of The Cigna Group by 36.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after acquiring an additional 343 shares in the last quarter. 87.61% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $269.45 on Friday. The firm’s 50 day moving average is $296.46 and its two-hundred day moving average is $304.55. The firm has a market capitalization of $80.04 billion, a P/E ratio of 12.60, a PEG ratio of 0.97 and a beta of 0.67. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. The Cigna Group has a 52 week low of $238.48 and a 52 week high of $340.11.

The Cigna Group (NYSE:CI – Get Rating) last posted its earnings results on Friday, February 3rd. The health services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.84 by $0.12. The Cigna Group had a return on equity of 16.01% and a net margin of 3.69%. The firm had revenue of $45.75 billion for the quarter, compared to analysts’ expectations of $45.79 billion. During the same period last year, the firm earned $4.77 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 24.92 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Wednesday, March 8th will be given a $1.23 dividend. This represents a $4.92 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, March 7th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.12. The Cigna Group’s dividend payout ratio is currently 23.01%.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 20,148 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the sale, the chief executive officer now directly owns 120,496 shares of the company’s stock, valued at approximately $35,433,053.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Michael W. Triplett sold 1,731 shares of The Cigna Group stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $271.67, for a total transaction of $470,260.77. Following the transaction, the insider now directly owns 30,235 shares of the company’s stock, valued at $8,213,942.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 20,148 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $294.06, for a total transaction of $5,924,720.88. Following the completion of the sale, the chief executive officer now directly owns 120,496 shares of the company’s stock, valued at $35,433,053.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,752 shares of company stock valued at $8,008,479. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CI shares. Wells Fargo & Company cut The Cigna Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $370.00 to $355.00 in a research note on Tuesday, January 3rd. JPMorgan Chase & Co. reduced their target price on The Cigna Group from $378.00 to $370.00 and set an “overweight” rating for the company in a research note on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Cigna Group from $359.00 to $348.00 in a research report on Wednesday, February 8th. SVB Securities cut their price target on shares of The Cigna Group from $335.00 to $309.00 in a report on Wednesday, February 8th. Finally, Loop Capital decreased their price objective on shares of The Cigna Group from $350.00 to $320.00 in a report on Monday, February 6th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.00.

The Cigna Group Company Profile

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.