KCM Investment Advisors LLC Cuts Position in The Cigna Group (NYSE:CI)

KCM Investment Advisors LLC reduced its holdings in shares of The Cigna Group (NYSE:CI) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,077 shares of the health services provider’s stock after selling 92 shares during the quarter. KCM Investment Advisors LLC’s holdings in The Cigna Group were worth $574,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Resona Asset Management Co. Ltd. acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $24,849,000. Wells Fargo & Company MN grew its position in The Cigna Group by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 607,272 shares of the health services provider’s stock valued at $167,692,000 after acquiring an additional 3,155 shares in the last quarter. Unison Advisors LLC raised its stake in shares of The Cigna Group by 0.4% during the fourth quarter. Unison Advisors LLC now owns 12,394 shares of the health services provider’s stock valued at $3,422,000 after purchasing an additional 48 shares during the period. ExodusPoint Capital Management LP lifted its position in shares of The Cigna Group by 106.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 22,616 shares of the health services provider’s stock worth $6,245,000 after purchasing an additional 11,641 shares in the last quarter. Finally, World Investment Advisors boosted its stake in shares of The Cigna Group by 115.7% in the fourth quarter. World Investment Advisors now owns 3,495 shares of the health services provider’s stock valued at $965,000 after purchasing an additional 1,875 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $322.02 on Monday. The stock has a market capitalization of $88.13 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.98 and a beta of 0.50. The firm’s 50-day moving average price is $308.72 and its two-hundred day moving average price is $312.39. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the company posted $6.79 earnings per share. As a group, sell-side analysts forecast 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 was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analysts Set New Price Targets

A number of equities analysts have commented on CI shares. Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $373.25.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last ninety days. 0.70% of the stock is owned by 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.