Schechter Investment Advisors LLC Sells 1,635 Shares of The Cigna Group (NYSE:CI)

Schechter Investment Advisors LLC lessened its stake in shares of The Cigna Group (NYSE:CI) by 43.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,144 shares of the health services provider’s stock after selling 1,635 shares during the period. Schechter Investment Advisors LLC’s holdings in The Cigna Group were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. Collier Financial purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $34,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at about $45,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several recent research reports. Barclays decreased their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $372.31.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

The Cigna Group Price Performance

NYSE CI opened at $308.90 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm’s 50 day moving average price is $290.71 and its 200-day moving average price is $318.11. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market cap of $85.92 billion, a PE ratio of 25.24, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the company earned $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.