Panagora Asset Management Inc. Sells 136,441 Shares of The Cigna Group (NYSE:CI)

Panagora Asset Management Inc. decreased its position in The Cigna Group (NYSE:CI) by 59.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,899 shares of the health services provider’s stock after selling 136,441 shares during the quarter. Panagora Asset Management Inc.’s holdings in The Cigna Group were worth $28,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CI. Allworth Financial LP lifted its position in The Cigna Group by 6.8% in the 3rd quarter. Allworth Financial LP now owns 4,321 shares of the health services provider’s stock worth $1,236,000 after buying an additional 276 shares during the last quarter. McAdam LLC lifted its position in The Cigna Group by 4.8% in the 3rd quarter. McAdam LLC now owns 1,218 shares of the health services provider’s stock worth $348,000 after buying an additional 56 shares during the last quarter. Wealthfront Advisers LLC lifted its position in The Cigna Group by 27.0% in the third quarter. Wealthfront Advisers LLC now owns 16,453 shares of the health services provider’s stock valued at $4,707,000 after purchasing an additional 3,502 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in The Cigna Group by 5.5% in the third quarter. New Mexico Educational Retirement Board now owns 15,347 shares of the health services provider’s stock valued at $4,390,000 after purchasing an additional 800 shares during the last quarter. Finally, AIA Group Ltd bought a new stake in The Cigna Group in the third quarter valued at approximately $521,000. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,685 shares of company stock valued at $27,622,407. Insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.2 %

NYSE CI opened at $338.71 on Friday. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock has a market cap of $96.22 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.03 and a beta of 0.57. The stock’s fifty day moving average price is $352.19 and its 200-day moving average price is $322.30. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the prior year, the firm posted $5.41 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.65%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer boosted their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Cantor Fitzgerald upped their target price on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Barclays started coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $366.14.

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.