Levin Capital Strategies L.P. Has $782,000 Stock Holdings in The Cigna Group (NYSE:CI)

Levin Capital Strategies L.P. decreased its stake in shares of The Cigna Group (NYSE:CI) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,610 shares of the health services provider’s stock after selling 600 shares during the period. Levin Capital Strategies L.P.’s holdings in The Cigna Group were worth $782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CI. Commonwealth Equity Services LLC lifted its position in The Cigna Group by 5.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 93,273 shares of the health services provider’s stock worth $26,683,000 after buying an additional 5,204 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in The Cigna Group by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 3,848 shares of the health services provider’s stock valued at $1,101,000 after purchasing an additional 88 shares during the period. Dakota Wealth Management lifted its position in The Cigna Group by 9.7% during the 3rd quarter. Dakota Wealth Management now owns 1,005 shares of the health services provider’s stock valued at $288,000 after purchasing an additional 89 shares during the period. Raymond James & Associates lifted its position in The Cigna Group by 28.9% during the 3rd quarter. Raymond James & Associates now owns 565,140 shares of the health services provider’s stock valued at $161,670,000 after purchasing an additional 126,604 shares during the period. Finally, Simon Quick Advisors LLC lifted its position in The Cigna Group by 17.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 928 shares of the health services provider’s stock valued at $266,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other news, CEO David Cordani sold 38,065 shares of The Cigna Group 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Cordani sold 38,065 shares of the business’s 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 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. Also, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the sale, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $362.14.

The Cigna Group Price Performance

The Cigna Group stock traded down $12.11 during midday trading on Thursday, reaching $345.07. The company’s stock had a trading volume of 1,964,262 shares, compared to its average volume of 1,568,993. The Cigna Group has a 52 week low of $240.50 and a 52 week 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 business has a 50-day moving average price of $350.78 and a 200-day moving average price of $319.21. The stock has a market cap of $100.88 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $48.91 billion. During the same quarter in the previous year, the business posted $4.96 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 32.20%.

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.