Securian Asset Management Inc. Trims Position in The Cigna Group (NYSE:CI)

Securian Asset Management Inc. lessened its stake in The Cigna Group (NYSE:CI) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,949 shares of the health services provider’s stock after selling 513 shares during the period. Securian Asset Management Inc.’s holdings in The Cigna Group were worth $4,128,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Collier Financial purchased a new position in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $34,000. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 2.1 %

CI stock opened at $311.08 on Thursday. The firm has a 50 day moving average of $295.40 and a 200 day moving average of $317.10. The stock has a market capitalization of $85.14 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 earnings per share. Sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analyst Ratings Changes

A number of research analysts have commented on CI shares. UBS Group cut their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald cut their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $372.31.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,375 shares of company stock worth $12,866,600 in the last three months. Corporate insiders own 0.60% of the company’s stock.

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.