Sei Investments Co. Sells 15,101 Shares of The Cigna Group (NYSE:CI)

Sei Investments Co. lowered its stake in The Cigna Group (NYSE:CI) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 341,571 shares of the health services provider’s stock after selling 15,101 shares during the quarter. Sei Investments Co.’s holdings in The Cigna Group were worth $94,322,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $25,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter valued at $37,000. Collier Financial acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth about $34,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CI. Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, UBS Group reduced their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $373.25.

The Cigna Group Stock Performance

Shares of CI stock opened at $316.78 on Friday. The firm’s 50 day moving average is $300.83 and its 200 day moving average is $315.05. The stock has a market capitalization of $86.70 billion, a P/E ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $6.79 EPS. On average, sell-side analysts anticipate 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 was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated 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 of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. Company insiders own 0.60% of the company’s stock.

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.