The Cigna Group (NYSE:CI) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lessened its stake in The Cigna Group (NYSE:CI) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,772 shares of the health services provider’s stock after selling 384 shares during the period. Schechter Investment Advisors LLC’s holdings in The Cigna Group were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in The Cigna Group by 154,255.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after purchasing an additional 11,947,096 shares in the last quarter. Norges Bank purchased a new position in The Cigna Group in the fourth quarter valued at about $963,542,000. Parnassus Investments LLC purchased a new position in The Cigna Group in the third quarter valued at about $731,041,000. FMR LLC increased its holdings in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after buying an additional 1,939,554 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in The Cigna Group by 13,563.1% in the second quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider’s stock valued at $167,272,000 after buying an additional 591,758 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI opened at $363.38 on Thursday. The company has a 50-day moving average of $332.16 and a 200-day moving average of $307.08. The company has a market capitalization of $106.24 billion, a P/E ratio of 20.90, a PEG ratio of 1.09 and a beta of 0.55. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $364.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The company’s revenue was up 11.8% on a year-over-year basis. Equities analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.54%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s payout ratio is presently 32.20%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CI. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Mizuho increased their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $335.00 to $341.00 in a research report on Monday, December 11th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $361.29.

The Cigna Group Company 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.