Levin Capital Strategies L.P. Sells 600 Shares of The Cigna Group (NYSE:CI)

Levin Capital Strategies L.P. lowered its position in The Cigna Group (NYSE:CI) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,610 shares of the health services provider’s stock after selling 600 shares during the quarter. Levin Capital Strategies L.P.’s holdings in The Cigna Group were worth $782,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC increased its holdings in shares of The Cigna Group by 137.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 65,490 shares of the health services provider’s stock worth $19,611,000 after purchasing an additional 37,889 shares during the period. Natixis Advisors L.P. increased its holdings in shares of The Cigna Group by 0.9% in the fourth quarter. Natixis Advisors L.P. now owns 396,007 shares of the health services provider’s stock worth $118,584,000 after purchasing an additional 3,354 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of The Cigna Group by 2.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 95,487 shares of the health services provider’s stock worth $28,594,000 after purchasing an additional 2,214 shares during the period. Fisher Asset Management LLC increased its stake in The Cigna Group by 17.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,571 shares of the health services provider’s stock valued at $471,000 after acquiring an additional 235 shares during the last quarter. Finally, Summit Financial LLC bought a new position in The Cigna Group in the fourth quarter valued at $263,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 in the last 90 days. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 3.4 %

NYSE:CI traded down $12.11 during trading hours on Thursday, reaching $345.07. The company’s stock had a trading volume of 1,964,262 shares, compared to its average volume of 1,568,993. The company has a market capitalization of $100.88 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day moving average price of $350.78 and a two-hundred day moving average price of $319.21.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CI shares. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Wednesday, April 10th. Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $362.14.

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.