Lazard Freres Gestion S.A.S. Decreases Stake in The Cigna Group (NYSE:CI)

Lazard Freres Gestion S.A.S. reduced its stake in The Cigna Group (NYSE:CI) by 5.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,756 shares of the health services provider’s stock after selling 200 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in The Cigna Group were worth $1,037,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Financial Group Inc. purchased a new position in The Cigna Group during the 4th quarter worth approximately $4,367,000. Principal Financial Group Inc. raised its position in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the last quarter. Valley Wealth Managers Inc. raised its position in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after buying an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 2.1 %

Shares of CI stock opened at $311.08 on Thursday. The company’s 50-day moving average price is $295.40 and its 200-day moving average price is $317.10. 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 stock has a market cap of $85.14 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

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 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 firm posted $6.79 EPS. As a group, equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current 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. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.94%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is 49.35%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Cantor Fitzgerald cut their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $372.31.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,375 shares of company stock worth $12,866,600. Company insiders own 0.60% of the company’s stock.

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.