Federated Hermes Inc. Sells 1,384 Shares of The Cigna Group (NYSE:CI)

Federated Hermes Inc. cut its holdings in The Cigna Group (NYSE:CI) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,591 shares of the health services provider’s stock after selling 1,384 shares during the quarter. Federated Hermes Inc.’s holdings in The Cigna Group were worth $2,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Avestar Capital LLC raised its stake in The Cigna Group by 0.8% during the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock valued at $1,312,000 after buying an additional 35 shares during the last quarter. Eads & Heald Wealth Management raised its stake in The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after buying an additional 35 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after buying an additional 35 shares during the last quarter. Strategic Blueprint LLC raised its stake in The Cigna Group by 4.8% during the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock valued at $224,000 after buying an additional 36 shares during the last quarter. Finally, E&G Advisors LP raised its stake in The Cigna Group by 1.8% during the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after buying an additional 37 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Down 0.0 %

Shares of CI stock opened at $354.47 on Friday. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. 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 firm has a market capitalization of $103.63 billion, a PE ratio of 20.38, a PEG ratio of 1.09 and a beta of 0.56. The stock has a fifty day simple moving average of $349.88 and a two-hundred day simple moving average of $317.98.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) 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 business had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. During the same quarter in the prior year, the business posted $4.96 EPS. The Cigna Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The Cigna Group’s payout ratio is presently 32.20%.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction 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 approximately $110,394,985.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CI shares. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company upped their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $360.00 price objective on shares of The Cigna Group in a research note on Wednesday, January 17th. Two equities 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $362.14.

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.