LSV Asset Management Has $165.33 Million Stock Holdings in The Cigna Group (NYSE:CI)

LSV Asset Management trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 598,710 shares of the health services provider’s stock after selling 26,750 shares during the period. LSV Asset Management owned about 0.22% of The Cigna Group worth $165,328,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Kesler Norman & Wride LLC increased its holdings in shares of The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC increased its stake in The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after purchasing an additional 37 shares in the last quarter. Mindset Wealth Management LLC increased its position in shares of The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after acquiring an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock worth $483,000 after acquiring an additional 38 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

NYSE:CI opened at $320.42 on Thursday. The firm has a market cap of $87.69 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The company has a 50 day moving average price of $310.59 and a 200-day moving average price of $311.62. 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 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 EPS. Equities research analysts forecast 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. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Guggenheim initiated coverage on shares of The Cigna Group in a research report on Wednesday. They issued a “buy” rating and a $384.00 target price on the stock. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Piper Sandler reissued an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average target price of $374.44.

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.