Sebold Capital Management Inc. Cuts Stake in The Cigna Group (NYSE:CI)

Sebold Capital Management Inc. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 8.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,169 shares of the health services provider’s stock after selling 104 shares during the period. Sebold Capital Management Inc.’s holdings in The Cigna Group were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bar Harbor Wealth Management bought a new position in The Cigna Group in the fourth quarter worth about $224,000. Red Door Wealth Management LLC increased its stake in shares of The Cigna Group by 11.5% in the 4th quarter. Red Door Wealth Management LLC now owns 3,333 shares of the health services provider’s stock valued at $998,000 after purchasing an additional 345 shares in the last quarter. Assenagon Asset Management S.A. raised its position in The Cigna Group by 153.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock worth $115,655,000 after acquiring an additional 233,945 shares during the period. ZRC Wealth Management LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $129,000. Finally, Kingswood Wealth Advisors LLC increased its position in shares of The Cigna Group by 52.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 4,083 shares of the health services provider’s stock worth $1,223,000 after purchasing an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.6 %

The Cigna Group 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 firm has a market capitalization of $106.24 billion, a PE ratio of 20.90, a PEG ratio of 1.10 and a beta of 0.55. The business’s 50-day simple moving average is $332.16 and its 200-day simple moving average is $307.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 EPS. Equities research analysts forecast that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared 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 a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 annualized dividend and a yield of 1.54%. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Analyst Upgrades and Downgrades

CI has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Mizuho increased their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $372.00 price objective on shares of The Cigna Group in a research note on Monday, March 4th. Two research 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, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $361.29.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction dated 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 directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Eric P. Palmer sold 6,083 shares of The Cigna Group stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 in the last 90 days. 0.60% of the stock is owned by company insiders.

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.