The Cigna Group (NYSE:CI) Shares Sold by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd lowered its position in shares of The Cigna Group (NYSE:CI) by 68.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,000 shares of the health services provider’s stock after selling 2,200 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in The Cigna Group were worth $276,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB lifted its holdings in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after acquiring an additional 119,681 shares in the last quarter. Harbour Investments Inc. raised its position in The Cigna Group by 23.6% in the third quarter. Harbour Investments Inc. now owns 661 shares of the health services provider’s stock valued at $229,000 after purchasing an additional 126 shares during the period. Huntington National Bank lifted its stake in shares of The Cigna Group by 2.5% during the third quarter. Huntington National Bank now owns 7,558 shares of the health services provider’s stock worth $2,618,000 after purchasing an additional 181 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of The Cigna Group by 9.4% in the third quarter. Zions Bancorporation N.A. now owns 943 shares of the health services provider’s stock worth $327,000 after buying an additional 81 shares during the period. Finally, Curi RMB Capital LLC acquired a new stake in shares of The Cigna Group in the third quarter valued at about $330,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Cantor Fitzgerald decreased 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 research note on Friday, January 31st. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Barclays decreased 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. Finally, Truist Financial dropped their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Performance

The Cigna Group stock opened at $313.35 on Friday. 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 company has a fifty day moving average price of $296.79 and a two-hundred day moving average price of $316.52. The company has a market cap of $85.76 billion, a PE 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 results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 business earned $6.79 earnings per share. Research 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 declared 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 an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction that occurred 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 directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at approximately $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. Insiders sold 41,375 shares of company stock worth $12,866,600 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

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.