Flputnam Investment Management Co. Trims Stock Position in The Cigna Group (NYSE:CI)

Flputnam Investment Management Co. cut its holdings in The Cigna Group (NYSE:CI) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,945 shares of the health services provider’s stock after selling 424 shares during the quarter. Flputnam Investment Management Co.’s holdings in The Cigna Group were worth $582,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CI. Bogart Wealth LLC increased its stake in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management acquired a new position in The Cigna Group during the third quarter worth about $26,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group in the second quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $29,000. Finally, Optimum Investment Advisors grew its position in shares of The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the transaction, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Trading Down 0.3 %

Shares of CI opened at $345.86 on Thursday. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $101.12 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.07 and a beta of 0.56. The stock’s 50-day moving average price is $347.73 and its 200 day moving average price is $314.79.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 EPS. As a group, research analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is currently 32.20%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CI. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $362.14.

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.