Schechter Investment Advisors LLC Cuts Stock Position in The Cigna Group (NYSE:CI)

Schechter Investment Advisors LLC lessened its holdings in The Cigna Group (NYSE:CI) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,772 shares of the health services provider’s stock after selling 384 shares during the period. Schechter Investment Advisors LLC’s holdings in The Cigna Group were worth $1,130,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC raised its stake 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 period. OFI Invest Asset Management purchased a new stake in The Cigna Group during the 3rd quarter worth $26,000. Fairfield Bush & CO. purchased a new stake in The Cigna Group during the 2nd quarter worth $28,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the 4th quarter worth $29,000. Finally, Optimum Investment Advisors increased its stake in The Cigna Group by 110.0% during the 3rd quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.6 %

CI stock opened at $363.38 on Thursday. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $364.71. The company has a market capitalization of $106.24 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.55. The firm’s 50-day moving average is $332.16 and its two-hundred day moving average is $307.08. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the previous year, the firm earned $4.96 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $1.40 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s payout ratio is presently 32.20%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CI shares. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Wells Fargo & Company boosted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $361.29.

Insider Buying and Selling

In related news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the transaction, the insider now directly owns 44,649 shares in the company, valued at $15,180,660. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 in the last ninety days. 0.60% of the stock is currently owned by corporate 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.