Heritage Wealth Advisors Has $307,000 Stock Position in The Cigna Group (NYSE:CI)

Heritage Wealth Advisors lowered its position in shares of The Cigna Group (NYSE:CI) by 11.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,113 shares of the health services provider’s stock after selling 150 shares during the quarter. Heritage Wealth Advisors’ holdings in The Cigna Group were worth $307,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CI. FMR LLC raised its stake in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Geode Capital Management LLC raised its position in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after buying an additional 22,408 shares during the period. GQG Partners LLC raised its position in The Cigna Group by 22.4% during 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 buying an additional 737,099 shares during the period. Amundi boosted its position in The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after acquiring an additional 374,865 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after acquiring an additional 44,810 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CI. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Trading Down 1.2 %

The Cigna Group stock opened at $316.64 on Wednesday. The business’s 50-day simple moving average is $302.25 and its 200-day simple moving average is $314.19. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market capitalization of $86.66 billion, a PE ratio of 25.87, a PEG ratio of 0.98 and a beta of 0.53. 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 (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 quarter in the prior year, the business posted $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 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.