The Cigna Group (NYSE:CI) Shares Sold by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC lessened its stake in The Cigna Group (NYSE:CI) by 28.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,162 shares of the health services provider’s stock after selling 451 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in The Cigna Group were worth $348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its position in shares of The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in The Cigna Group by 154,255.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after buying an additional 11,947,096 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock valued at $3,385,282,000 after acquiring an additional 345,605 shares during the last quarter. Morgan Stanley lifted its position in shares of The Cigna Group by 4.7% in the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of The Cigna Group by 5.9% in the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after acquiring an additional 181,385 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 0.8 %

CI stock traded up $2.87 during midday trading on Thursday, hitting $348.95. 1,050,930 shares of the company’s stock were exchanged, compared to its average volume of 1,598,389. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $102.02 billion, a PE ratio of 19.89, a P/E/G ratio of 1.06 and a beta of 0.56. The business has a 50-day simple moving average of $347.73 and a two-hundred day simple moving average of $314.79.

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

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $1.40 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Insider Activity

In related news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, 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 accessible through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. 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 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 owns 45,564 shares in the company, valued at $15,275,786.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CI. Morgan Stanley reissued an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research note on Wednesday, January 17th. 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. Finally, Mizuho upped their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.