Clark Estates Inc. NY Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Clark Estates Inc. NY reduced its holdings in The Cigna Group (NYSE:CI) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,365 shares of the health services provider’s stock after selling 1,135 shares during the period. Clark Estates Inc. NY’s holdings in The Cigna Group were worth $2,586,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Swedbank AB boosted its stake in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares during the period. FMR LLC lifted its holdings in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of The Cigna Group by 34,280.8% during the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after purchasing an additional 237,909 shares during the period. Assenagon Asset Management S.A. grew its holdings in The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after purchasing an additional 202,161 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in The Cigna Group in the 3rd quarter worth about $69,972,000. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CI has been the subject of several recent analyst reports. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Oppenheimer decreased their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. 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. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group Trading Down 0.8 %

Shares of NYSE:CI opened at $308.90 on Wednesday. The company has a market capitalization 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 company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The business’s fifty day simple moving average is $290.71 and its 200-day simple moving average is $318.11.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $6.79 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

The Cigna Group Company 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.