Alliancebernstein L.P. Lowers Stock Position in The Cigna Group (NYSE:CI)

Alliancebernstein L.P. decreased its stake in The Cigna Group (NYSE:CI) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 770,278 shares of the health services provider’s stock after selling 291,557 shares during the period. Alliancebernstein L.P. owned about 0.28% of The Cigna Group worth $212,705,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter worth $25,000. Collier Financial bought a new stake in The Cigna Group during the fourth quarter worth about $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at about $53,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.3 %

Shares of The Cigna Group stock opened at $329.33 on Tuesday. The company’s fifty day simple moving average is $305.58 and its two-hundred day simple moving average is $313.24. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market cap of $90.13 billion, a P/E ratio of 26.91, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the business earned $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.83%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CI. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial decreased their target price 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. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $373.25.

Insiders Place Their Bets

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 transaction of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

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.