Dorsey & Whitney Trust CO LLC Cuts Stake in The Cigna Group (NYSE:CI)

Dorsey & Whitney Trust CO LLC lowered its position in shares of The Cigna Group (NYSE:CI) by 26.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,833 shares of the health services provider’s stock after selling 1,028 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in The Cigna Group were worth $782,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CI. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $34,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the 3rd quarter worth about $37,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.9 %

Shares of NYSE:CI opened at $321.48 on Monday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market cap of $87.98 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 fifty day simple moving average of $292.84 and a 200 day simple moving average of $317.54.

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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company posted $6.79 EPS. On average, equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the company’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 completion of the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 26,527 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 transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CI shares. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. 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. Stephens decreased their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $372.31.

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.