Price T Rowe Associates Inc. MD Sells 1,117,751 Shares of The Cigna Group (NYSE:CI)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 10,962,479 shares of the health services provider’s stock after selling 1,117,751 shares during the period. Price T Rowe Associates Inc. MD’s holdings in The Cigna Group were worth $3,027,180,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. TCTC Holdings LLC acquired a new position in The Cigna Group during the 4th quarter worth about $25,000. Collier Financial acquired a new position in shares of The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Transce3nd LLC bought a new position in The Cigna Group in the 4th quarter worth approximately $38,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The shares were 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 in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company’s stock, 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. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $336.89 on Wednesday. The firm has a market cap of $92.20 billion, a P/E ratio of 27.52, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm’s 50 day moving average price is $317.24 and its two-hundred day moving average price is $310.60.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 business earned $6.79 earnings per share. On average, analysts forecast that The Cigna Group will post 29.77 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 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald lifted their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Morgan Stanley reduced 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. Stephens dropped their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment 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. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $373.56.

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.