Stack Financial Management Inc Reduces Stock Holdings in The Cigna Group (NYSE:CI)

Stack Financial Management Inc lessened its stake in shares of The Cigna Group (NYSE:CI) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,236 shares of the health services provider’s stock after selling 1,400 shares during the quarter. The Cigna Group makes up approximately 2.5% of Stack Financial Management Inc’s holdings, making the stock its 13th largest holding. Stack Financial Management Inc’s holdings in The Cigna Group were worth $22,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Bogart Wealth LLC increased its holdings in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new position in The Cigna Group during the third quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in The Cigna Group in the 4th quarter worth about $29,000. VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI traded down $1.36 during mid-day trading on Friday, reaching $353.15. The company’s stock had a trading volume of 342,915 shares, compared to its average volume of 1,564,362. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The stock has a market capitalization of $103.25 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.08 and a beta of 0.56. The stock has a 50-day moving average of $349.61 and a two-hundred day moving average of $317.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.96 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CI. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Finally, Barclays initiated coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $362.14.

Insider Activity at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares in the company, 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 90 days. 0.60% of the stock is owned by insiders.

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.