Marietta Investment Partners LLC Sells 395 Shares of The Cigna Group (NYSE:CI)

Marietta Investment Partners LLC decreased its position in The Cigna Group (NYSE:CI) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,045 shares of the health services provider’s stock after selling 395 shares during the quarter. Marietta Investment Partners LLC’s holdings in The Cigna Group were worth $2,498,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth $25,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth $34,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the third quarter worth $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group in the fourth quarter worth $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CI. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial dropped their price objective 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. Oppenheimer dropped their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Price Performance

CI opened at $316.78 on Friday. The business has a fifty day moving average of $300.83 and a 200 day moving average of $315.40. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $86.70 billion, a P/E ratio of 25.88, a PEG 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 earnings per share (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 period in the previous year, the firm posted $6.79 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company 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. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The Cigna Group’s payout ratio is 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

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.