USS Investment Management Ltd Sells 3,748 Shares of The Cigna Group (NYSE:CI)

USS Investment Management Ltd cut its holdings in The Cigna Group (NYSE:CI) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,729 shares of the health services provider’s stock after selling 3,748 shares during the quarter. USS Investment Management Ltd’s holdings in The Cigna Group were worth $14,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kesler Norman & Wride LLC lifted its holdings in shares of The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after purchasing an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its position in The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after buying an additional 36 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after acquiring an additional 37 shares during the period. Mindset Wealth Management LLC boosted its holdings in shares of The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after acquiring an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in shares of The Cigna Group by 2.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after acquiring an additional 38 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the business’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 completion of the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28% decrease in their ownership of the stock. 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 quarter. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CI shares. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Guggenheim restated a “buy” rating and issued a $388.00 price target (up from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $379.33.

The Cigna Group Stock Up 0.9%

CI opened at $324.75 on Wednesday. The stock has a market cap of $86.75 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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’s fifty day moving average is $325.48 and its 200 day moving average is $310.02. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the business earned $6.47 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

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.