Orion Portfolio Solutions LLC Sells 6,013 Shares of The Cigna Group (NYSE:CI)

Orion Portfolio Solutions LLC cut its position in shares of The Cigna Group (NYSE:CI) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,584 shares of the health services provider’s stock after selling 6,013 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in The Cigna Group were worth $15,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in The Cigna Group by 13.8% during the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The Cigna Group by 3.0% in the 3rd 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 purchasing an additional 345,605 shares during the last quarter. Morgan Stanley boosted its stake in The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares in the last quarter. Norges Bank bought a new position in The Cigna Group in the 4th quarter worth about $1,006,348,000. Finally, Northern Trust Corp increased its stake in The Cigna Group by 5.9% during the 3rd quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock valued at $928,056,000 after purchasing an additional 181,385 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

NYSE CI traded down $5.22 on Friday, reaching $332.61. The company had a trading volume of 1,311,594 shares, compared to its average volume of 1,632,541. The firm’s 50 day moving average price is $350.99 and its 200 day moving average price is $323.15. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock has a market capitalization of $94.48 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.03 and a beta of 0.57. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.41 earnings per share. As a group, equities analysts predict that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CI shares. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. Cantor Fitzgerald boosted their price target on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer boosted their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, 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. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $366.14.

Insider Buying and Selling at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other The Cigna Group news, CEO David Cordani sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $345.04, for a total transaction of $690,080.00. Following the transaction, the chief executive officer now owns 336,783 shares in the company, valued at $116,203,606.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The disclosure for this sale can be found here. Insiders sold 72,366 shares of company stock worth $25,440,835 over the last 90 days. 0.60% of the stock is owned by 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.