Kayne Anderson Rudnick Investment Management LLC Reduces Stock Position in The Cigna Group (NYSE:CI)

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of The Cigna Group (NYSE:CI) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 284 shares of the health services provider’s stock after selling 42 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in The Cigna Group were worth $79,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kesler Norman & Wride LLC raised its holdings in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after buying an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its position in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC raised its stake in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after acquiring an additional 37 shares during the last quarter. Mindset Wealth Management LLC raised its stake in The Cigna Group by 2.6% in the 4th 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 during the last quarter. Finally, Jacobi Capital Management LLC lifted its position in The Cigna Group by 2.2% during the 4th 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 during the period. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CI shares. Robert W. Baird reduced their price objective on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Piper Sandler reissued an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Cantor Fitzgerald upped their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Truist Financial boosted their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $373.56.

The Cigna Group Trading Down 0.1 %

Shares of CI stock opened at $336.67 on Thursday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market cap of $92.14 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 0.98 and a beta of 0.51. 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 stock has a 50 day simple moving average of $318.14 and a 200-day simple moving average of $310.78.

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 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 firm earned $6.79 EPS. On average, equities research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.79%. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.