Moors & Cabot Inc. Has $2.60 Million Stock Position in The Cigna Group (NYSE:CI)

Moors & Cabot Inc. trimmed its position in The Cigna Group (NYSE:CI) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,416 shares of the health services provider’s stock after selling 499 shares during the quarter. Moors & Cabot Inc.’s holdings in The Cigna Group were worth $2,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter worth about $37,000. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group during the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Down 2.1 %

NYSE CI opened at $311.08 on Thursday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market capitalization of $85.14 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.98 and a beta of 0.53. 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 stock’s 50 day moving average price is $295.40 and its two-hundred day moving average price is $317.10.

The Cigna Group (NYSE:CI) last announced 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm posted $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change 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 1.94%. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

CI has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Cantor Fitzgerald decreased their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a report on Friday, January 31st. Finally, Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $372.31.

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.