High Note Wealth LLC Trims Stock Holdings in The Cigna Group (NYSE:CI)

High Note Wealth LLC decreased its position in The Cigna Group (NYSE:CI) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,658 shares of the health services provider’s stock after selling 93 shares during the period. The Cigna Group comprises approximately 1.2% of High Note Wealth LLC’s investment portfolio, making the stock its 24th biggest holding. High Note Wealth LLC’s holdings in The Cigna Group were worth $3,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aristotle Atlantic Partners LLC raised its stake in shares of The Cigna Group by 24.3% during the 2nd quarter. Aristotle Atlantic Partners LLC now owns 112,541 shares of the health services provider’s stock valued at $31,579,000 after buying an additional 22,014 shares during the last quarter. Accurate Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 4th quarter valued at about $2,244,000. Dfpg Investments LLC grew its position in shares of The Cigna Group by 92.0% during the 4th quarter. Dfpg Investments LLC now owns 7,160 shares of the health services provider’s stock valued at $2,174,000 after acquiring an additional 3,430 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of The Cigna Group by 1.5% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 444,817 shares of the health services provider’s stock valued at $127,249,000 after acquiring an additional 6,365 shares during the period. Finally, Perpetual Ltd grew its position in shares of The Cigna Group by 15.7% during the 3rd quarter. Perpetual Ltd now owns 132,461 shares of the health services provider’s stock valued at $37,893,000 after acquiring an additional 17,925 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $363.38 on Thursday. 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 52 week low of $240.50 and a 52 week high of $364.71. The stock has a market capitalization of $106.24 billion, a PE ratio of 20.90, a P/E/G ratio of 1.09 and a beta of 0.55. The firm has a 50 day moving average of $332.16 and a two-hundred day moving average of $307.08.

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, beating analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period last year, the business earned $4.96 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, research analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors 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. This represents a $5.60 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $372.00 target price on shares of The Cigna Group in a research note on Monday, March 4th. Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target for the company. Mizuho lifted 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, Jefferies Financial Group upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $335.00 to $341.00 in a research report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $361.29.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The shares were 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 owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Cordani sold 31,209 shares of The Cigna Group 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 completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is owned by company insiders.

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.