The Cigna Group (NYSE:CI) Stock Holdings Reduced by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lowered its position in The Cigna Group (NYSE:CI) by 55.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,614 shares of the health services provider’s stock after selling 3,318 shares during the quarter. Mach 1 Financial Group LLC’s holdings in The Cigna Group were worth $783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC bought a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $731,041,000. FMR LLC raised its stake in shares of 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 valued at $4,567,783,000 after acquiring an additional 1,939,554 shares in the last quarter. Cerity Partners LLC raised its stake in shares of 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 valued at $176,694,000 after acquiring an additional 538,274 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $3,385,282,000 after buying an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings 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 valued at $169,558,000 after buying an additional 317,081 shares during 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 news, CEO David Cordani sold 38,065 shares of the business’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 completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was 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 owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 38,065 shares of the company’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 of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is currently owned by insiders.

The Cigna Group Price Performance

CI traded up $0.67 during trading on Tuesday, hitting $357.11. The company’s stock had a trading volume of 1,216,208 shares, compared to its average volume of 1,561,397. The firm’s 50 day moving average price is $350.50 and its two-hundred day moving average price is $318.94. 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 stock has a market capitalization of $104.40 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56.

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, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.57%. The Cigna Group’s payout ratio is 32.20%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised 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 report on Thursday, February 1st. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Wells Fargo & Company lifted their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Wednesday, April 10th. Two investment 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 data from MarketBeat, the company has an average rating of “Buy” and an average target price 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.