Lazard Freres Gestion S.A.S. Cuts Position in The Cigna Group (NYSE:CI)

Lazard Freres Gestion S.A.S. lowered its position in The Cigna Group (NYSE:CI) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,756 shares of the health services provider’s stock after selling 200 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in The Cigna Group were worth $1,037,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Adero Partners LLC boosted its stake in The Cigna Group by 4.5% in the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after buying an additional 34 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. raised its holdings in shares of The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC raised its holdings in shares of The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after buying an additional 37 shares during the period. Finally, Smithfield Trust Co raised its holdings in shares of The Cigna Group by 3.6% during the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, 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 transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,375 shares of company stock valued at $12,866,600 over the last three months. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 2.1 %

Shares of CI stock opened at $311.08 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a fifty day moving average of $295.40 and a two-hundred day moving average of $317.10. The firm has a market capitalization of $85.14 billion, a PE ratio of 25.42, 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 data 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 period in the prior year, the company posted $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The Cigna Group’s payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. 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. Truist Financial dropped their target price 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. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley dropped their price objective 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. Finally, Cantor Fitzgerald dropped their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Company 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.