PGGM Investments Sells 2,479 Shares of The Cigna Group (NYSE:CI)

PGGM Investments lessened its position in shares of The Cigna Group (NYSE:CI) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,408 shares of the health services provider’s stock after selling 2,479 shares during the period. PGGM Investments’ holdings in The Cigna Group were worth $12,100,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CI. Bogart Wealth LLC boosted its stake in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in The Cigna Group in the 3rd quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $29,000. VisionPoint Advisory Group LLC lifted its stake in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its stake in The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.0 %

CI stock traded down $0.04 during midday trading on Friday, hitting $354.47. The stock had a trading volume of 830,527 shares, compared to its average volume of 1,260,787. The firm has a market cap of $103.63 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. 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 Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The business has a fifty day moving average price of $349.88 and a two-hundred day moving average price of $317.98.

The Cigna Group (NYSE:CI) last released its 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 business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The Cigna Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. Wells Fargo & Company raised their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays started coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Finally, Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. 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. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $362.14.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated 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 directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. 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. Corporate insiders own 0.60% of the company’s stock.

About The Cigna Group

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.