The Cigna Group (NYSE:CI) Stock Position Lowered by Lyell Wealth Management LP

Lyell Wealth Management LP lessened its position in The Cigna Group (NYSE:CI) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,553 shares of the health services provider’s stock after selling 156 shares during the quarter. Lyell Wealth Management LP’s holdings in The Cigna Group were worth $2,861,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Parnassus Investments LLC purchased a new stake in The Cigna Group in the 3rd quarter worth approximately $731,041,000. FMR LLC lifted its position in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares in the last quarter. Cerity Partners LLC lifted its position in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after buying an additional 345,605 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in The Cigna Group by 127.3% in the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after buying an additional 317,081 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred 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 approximately $110,394,985.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

Shares of NYSE:CI traded down $0.38 during midday trading on Wednesday, reaching $352.27. 1,120,784 shares of the company’s stock were exchanged, compared to its average volume of 1,588,393. The company’s 50 day simple moving average is $349.31 and its two-hundred day simple moving average is $317.09. The firm has a market capitalization of $102.99 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (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 firm had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. During the same period last year, the firm posted $4.96 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.59%. The Cigna Group’s payout ratio is presently 32.20%.

Analyst Ratings Changes

CI has been the topic of several analyst reports. Wells Fargo & Company increased 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 note on Tuesday, February 6th. Barclays initiated coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Mizuho increased their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Oppenheimer restated an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price 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.