Obermeyer Wealth Partners Lowers Position in The Cigna Group (NYSE:CI)

Obermeyer Wealth Partners decreased its holdings in shares of The Cigna Group (NYSE:CI) by 76.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,665 shares of the health services provider’s stock after selling 5,394 shares during the period. Obermeyer Wealth Partners’ holdings in The Cigna Group were worth $460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Financial Group Inc. bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $4,367,000. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. increased its stake in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Humankind Investments LLC increased its stake in shares of The Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after purchasing an additional 571 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of The Cigna Group by 1.5% during the fourth quarter. KBC Group NV now owns 550,638 shares of the health services provider’s stock valued at $152,053,000 after purchasing an additional 8,077 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cowen reissued a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. UBS Group reduced their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Stephens reduced 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 report on Friday, January 31st. Finally, Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $379.33.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59% decrease in their position. 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. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Trading Down 4.4%

Shares of The Cigna Group stock opened at $301.90 on Wednesday. The company’s fifty day simple moving average is $325.67 and its 200-day simple moving average is $309.94. The stock has a market capitalization of $80.65 billion, a PE ratio of 24.67, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company posted $6.47 EPS. As a group, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

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.