Marco Investment Management LLC Reduces Position in The Cigna Group (NYSE:CI)

Marco Investment Management LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 21.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 75,310 shares of the health services provider’s stock after selling 20,000 shares during the quarter. The Cigna Group accounts for 2.3% of Marco Investment Management LLC’s investment portfolio, making the stock its 8th biggest holding. Marco Investment Management LLC’s holdings in The Cigna Group were worth $22,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roman Butler Fullerton & Co. increased its holdings in shares of The Cigna Group by 61.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after buying an additional 3,539 shares in the last quarter. Ellsworth Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at $4,377,000. Sapient Capital LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at $2,811,000. Allspring Global Investments Holdings LLC increased its holdings in shares of The Cigna Group by 29.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock valued at $87,870,000 after buying an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at $2,244,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.0 %

Shares of The Cigna Group stock traded down $0.04 on Friday, hitting $354.47. 830,527 shares of the company traded hands, compared to its average volume of 1,260,787. The company has a 50-day moving average price of $349.88 and a 200 day moving average price of $318.15. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a market cap of $103.63 billion, a PE ratio of 20.38, a PEG ratio of 1.09 and a beta of 0.56.

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 business had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same period in the previous year, the company posted $4.96 EPS. The Cigna Group’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 32.20%.

Insider Buying and Selling

In related news, insider Eric P. Palmer sold 1,017 shares of the company’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 completion of the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the sale, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $330.00 to $372.00 in a report on Thursday, January 4th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Wednesday, April 10th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $362.14.

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.