Eudaimonia Partners LLC Sells 31 Shares of The Cigna Group (NYSE:CI)

Eudaimonia Partners LLC reduced its position in shares of The Cigna Group (NYSE:CIFree Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 867 shares of the health services provider’s stock after selling 31 shares during the quarter. Eudaimonia Partners LLC’s holdings in The Cigna Group were worth $260,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. FMR LLC raised 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 purchasing an additional 345,605 shares during the period. Morgan Stanley boosted its holdings in 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 worth $1,422,657,000 after purchasing an additional 225,115 shares during the last quarter. Northern Trust Corp raised its stake in The Cigna Group by 5.9% during the 3rd quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock valued at $928,056,000 after buying an additional 181,385 shares during the last quarter. Finally, Parnassus Investments LLC bought a new position in shares of The Cigna Group during the 3rd quarter valued at $731,041,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 6,319 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $345.24, for a total transaction of $2,181,571.56. Following the completion of the transaction, the chief executive officer now owns 336,783 shares in the company, valued at $116,270,962.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 62,039 shares of company stock valued at $21,820,348. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CI. Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Mizuho boosted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $366.14.

Check Out Our Latest Stock Report on The Cigna Group

The Cigna Group Price Performance

NYSE CI traded down $3.10 on Wednesday, reaching $343.32. The company had a trading volume of 2,244,115 shares, compared to its average volume of 1,593,691. The stock has a market capitalization of $97.53 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.07 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 quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average price is $352.26 and its 200 day moving average price is $321.80.

The Cigna Group (NYSE:CIGet Free Report) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.41 earnings per share. As a group, equities analysts predict that The Cigna Group will post 28.46 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company 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 dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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