MV Capital Management Inc. Cuts Stock Position in The Cigna Group (NYSE:CI)

MV Capital Management Inc. decreased its stake in shares of The Cigna Group (NYSE:CI) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 566 shares of the health services provider’s stock after selling 93 shares during the quarter. MV Capital Management Inc.’s holdings in The Cigna Group were worth $206,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Sanders Capital LLC boosted its stake in The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after purchasing an additional 97,277 shares during the last quarter. Morgan Stanley boosted its position in shares of The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after buying an additional 225,115 shares during the last quarter. Norges Bank bought a new stake in The Cigna Group in the 4th quarter worth about $1,006,348,000. Parnassus Investments LLC lifted its stake in The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after acquiring an additional 126,598 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of The Cigna Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after acquiring an additional 53,414 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CI. Robert W. Baird began coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Oppenheimer increased their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $376.20.

Insider Transactions at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Trading Down 0.1 %

Shares of The Cigna Group stock opened at $325.91 on Wednesday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $92.58 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.01 and a beta of 0.52. The company has a fifty day moving average of $340.69 and a 200 day moving average of $333.60.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.41 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

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.