The Cigna Group (NYSE:CI) Shares Sold by Associated Banc Corp

Associated Banc Corp decreased its position in The Cigna Group (NYSE:CI) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 118,088 shares of the health services provider’s stock after selling 4,776 shares during the period. The Cigna Group comprises approximately 1.0% of Associated Banc Corp’s portfolio, making the stock its 28th biggest holding. Associated Banc Corp’s holdings in The Cigna Group were worth $32,609,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Intact Investment Management Inc. grew its holdings in The Cigna Group by 550.0% in the fourth quarter. Intact Investment Management Inc. now owns 1,300 shares of the health services provider’s stock valued at $359,000 after purchasing an additional 1,100 shares during the last quarter. Wellington Shields Capital Management LLC grew its holdings in The Cigna Group by 4.6% in the fourth quarter. Wellington Shields Capital Management LLC now owns 2,156 shares of the health services provider’s stock valued at $595,000 after purchasing an additional 95 shares during the last quarter. King Wealth Management Group grew its holdings in The Cigna Group by 49.7% in the fourth quarter. King Wealth Management Group now owns 12,276 shares of the health services provider’s stock valued at $3,390,000 after purchasing an additional 4,075 shares during the last quarter. LBP AM SA boosted its stake in shares of The Cigna Group by 56.2% during the fourth quarter. LBP AM SA now owns 32,594 shares of the health services provider’s stock valued at $9,001,000 after acquiring an additional 11,732 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of The Cigna Group by 1.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 54,602 shares of the health services provider’s stock valued at $15,078,000 after acquiring an additional 919 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,375 shares of company stock worth $12,866,600 in the last three months. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

The Cigna Group stock opened at $313.35 on Friday. The stock’s 50-day moving average is $296.79 and its 200-day moving average is $316.78. The company has a market cap of $85.76 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 previous year, the company earned $6.79 earnings per share. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Sanford C. Bernstein lowered 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 note on Thursday, February 6th. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. 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 stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $372.31.

About The Cigna Group

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.