Atria Wealth Solutions Inc. Trims Stock Position in The Cigna Group (NYSE:CI)

Atria Wealth Solutions Inc. cut its stake in The Cigna Group (NYSE:CI) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,056 shares of the health services provider’s stock after selling 2,079 shares during the period. Atria Wealth Solutions Inc.’s holdings in The Cigna Group were worth $2,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its holdings in shares of 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 valued at $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of The Cigna Group by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after acquiring an additional 345,605 shares during the period. Morgan Stanley increased its stake in shares of The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after acquiring an additional 225,115 shares during the period. Northern Trust Corp increased its stake in shares of The Cigna Group by 5.9% during the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after acquiring an additional 181,385 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of The Cigna Group by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 2,570,994 shares of the health services provider’s stock worth $735,484,000 after acquiring an additional 72,714 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.0 %

CI stock opened at $354.47 on Monday. The company’s 50 day simple moving average is $349.88 and its 200-day simple moving average is $318.15. The firm has a market capitalization of $103.63 billion, a PE ratio of 20.38, a P/E/G ratio of 1.09 and a beta of 0.56. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67.

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

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 32.20%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Barclays initiated coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $362.14.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on 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 owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was 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 in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Company insiders own 0.60% of the company’s stock.

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.