American Century Companies Inc. Sells 29,467 Shares of The Cigna Group (NYSE:CI)

American Century Companies Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 13.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 193,927 shares of the health services provider’s stock after selling 29,467 shares during the quarter. American Century Companies Inc.’s holdings in The Cigna Group were worth $53,551,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. TCTC Holdings LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth $25,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at about $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 bought a new stake in The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $53,000. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CI. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. 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. Stephens lowered their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Up 1.4 %

The Cigna Group stock opened at $321.18 on Thursday. The firm has a market capitalization of $87.90 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 0.98 and a beta of 0.53. The firm has a 50 day simple moving average of $302.98 and a 200 day simple moving average of $314.24. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 period in the prior year, the business earned $6.79 EPS. On average, analysts predict 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 paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.88%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Insider Activity at The Cigna Group

In related news, 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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate 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.