OVERSEA CHINESE BANKING Corp Ltd Sells 63 Shares of The Cigna Group (NYSE:CI)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of The Cigna Group (NYSE:CI) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,205 shares of the health services provider’s stock after selling 63 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in The Cigna Group were worth $361,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in The Cigna Group by 154,255.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after acquiring an additional 11,947,096 shares in the last quarter. Norges Bank purchased a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $963,542,000. Parnassus Investments LLC bought a new position in The Cigna Group in the third quarter worth approximately $731,041,000. FMR LLC grew its stake in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after purchasing an additional 538,274 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

Shares of CI opened at $352.39 on Monday. The company has a 50 day moving average of $348.41 and a two-hundred day moving average of $315.91. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company has a market cap of $103.02 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. During the same quarter last year, the firm earned $4.96 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The Cigna Group’s payout ratio is presently 32.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CI shares. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Barclays began coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $362.14.

The Cigna Group 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.