Sei Investments Co. Sells 15,101 Shares of The Cigna Group (NYSE:CI)

Sei Investments Co. decreased its stake in shares of The Cigna Group (NYSE:CI) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,571 shares of the health services provider’s stock after selling 15,101 shares during the period. Sei Investments Co. owned approximately 0.12% of The Cigna Group worth $94,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CI. TCTC Holdings LLC bought a new position in The Cigna Group during the 4th quarter worth about $25,000. Collier Financial acquired a new position in shares of The Cigna Group during the fourth quarter worth about $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter worth about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the 3rd quarter valued at approximately $37,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the 4th quarter valued at approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Down 1.4 %

Shares of CI opened at $316.78 on Friday. 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 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $86.70 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53. The business’s fifty day moving average is $300.83 and its 200-day moving average is $315.05.

The Cigna Group (NYSE:CI) last released 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 firm earned $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal 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 paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. UBS Group decreased 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 research report on Monday, February 3rd. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.