D L Carlson Investment Group Inc. Sells 814 Shares of The Cigna Group (NYSE:CI)

D L Carlson Investment Group Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 8.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,439 shares of the health services provider’s stock after selling 814 shares during the period. D L Carlson Investment Group Inc.’s holdings in The Cigna Group were worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. CreativeOne Wealth LLC boosted its stake in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of The Cigna Group by 5.5% in the third quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock worth $4,020,000 after buying an additional 600 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in The Cigna Group by 10.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 61,725 shares of the health services provider’s stock valued at $21,389,000 after acquiring an additional 5,642 shares during the period. Captrust Financial Advisors boosted its stake in shares of The Cigna Group by 21.9% in the 3rd quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock worth $10,141,000 after buying an additional 5,262 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of The Cigna Group in the 3rd quarter worth approximately $17,630,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $324.97 on Monday. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth 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 1-year low of $262.03 and a 1-year high of $370.83. The firm’s fifty day moving average price is $304.67 and its 200 day moving average price is $313.47.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 quarter last year, the company posted $6.79 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. 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 dividend yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target 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. Barclays lowered their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Morgan Stanley decreased their price objective on 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, Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.25.

Insider Buying and Selling

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, 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. Over the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% 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.