Korea Investment CORP Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Korea Investment CORP cut its position in shares of The Cigna Group (NYSE:CI) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 241,901 shares of the health services provider’s stock after selling 29,541 shares during the period. Korea Investment CORP’s holdings in The Cigna Group were worth $66,799,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $25,000. Collier Financial acquired 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 fourth quarter worth approximately $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CI. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Trading Up 1.1 %

Shares of The Cigna Group stock opened at $324.74 on Friday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market capitalization of $88.88 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.53. The stock has a 50 day moving average of $303.86 and a 200 day moving average of $314.31.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 earnings per share. As a group, research analysts predict 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. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

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.