AGF Management Ltd. Has $2.36 Million Stake in The Cigna Group (NYSE:CI)

AGF Management Ltd. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 18.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,542 shares of the health services provider’s stock after selling 1,965 shares during the period. AGF Management Ltd.’s holdings in The Cigna Group were worth $2,359,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Cornerstone Advisors LLC grew its position in shares of The Cigna Group by 2.6% in the 4th quarter. Cornerstone Advisors LLC now owns 16,000 shares of the health services provider’s stock valued at $4,418,000 after acquiring an additional 400 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of The Cigna Group by 3.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 8,945 shares of the health services provider’s stock valued at $2,470,000 after acquiring an additional 334 shares during the period. Claris Advisors LLC MO grew its position in shares of The Cigna Group by 5.8% in the 4th quarter. Claris Advisors LLC MO now owns 823 shares of the health services provider’s stock valued at $227,000 after acquiring an additional 45 shares during the period. Morton Community Bank grew its position in shares of The Cigna Group by 1.7% in the 4th quarter. Morton Community Bank now owns 12,048 shares of the health services provider’s stock valued at $3,327,000 after acquiring an additional 205 shares during the period. Finally, Independent Advisor Alliance grew its position in shares of The Cigna Group by 179.3% in the 4th quarter. Independent Advisor Alliance now owns 5,895 shares of the health services provider’s stock valued at $1,628,000 after acquiring an additional 3,784 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.4 %

NYSE:CI opened at $313.35 on Friday. The firm’s fifty day moving average is $296.79 and its 200-day moving average is $316.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market cap of $85.76 billion, a P/E ratio of 25.60, a P/E/G ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted 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 in the prior year, the business earned $6.79 earnings per share. Equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. 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 1.93%. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,375 shares of company stock valued at $12,866,600 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CI. Sanford C. Bernstein downgraded 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. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays lowered their price objective 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $372.31.

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.