Heritage Wealth Advisors Trims Holdings in The Cigna Group (NYSE:CI)

Heritage Wealth Advisors cut its position in shares of The Cigna Group (NYSE:CI) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,113 shares of the health services provider’s stock after selling 150 shares during the quarter. Heritage Wealth Advisors’ holdings in The Cigna Group were worth $307,000 at the end of the most recent quarter.

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

The Cigna Group Trading Down 1.2 %

NYSE:CI opened at $316.64 on Wednesday. The business has a 50 day simple moving average of $302.25 and a 200 day simple moving average of $314.19. The firm has a market capitalization of $86.66 billion, a P/E ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $6.79 EPS. Equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.91%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of 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. Finally, Stephens cut their price objective on 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $373.25.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,471 shares in the company, 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. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last three months. Company insiders own 0.60% of the company’s stock.

The Cigna Group 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.