The Cigna Group (NYSE:CI) Shares Sold by Ritholtz Wealth Management

Posted by Defense World Staff on Mar 27th, 2023

Ritholtz Wealth Management reduced its position in The Cigna Group (NYSE:CI – Get Rating) by 28.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,952 shares of the health services provider’s stock after selling 1,538 shares during the period. Ritholtz Wealth Management’s holdings in The Cigna Group were worth $1,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pacifica Partners Inc. lifted its position in The Cigna Group by 95.2% during the 4th quarter. Pacifica Partners Inc. now owns 82 shares of the health services provider’s stock worth $27,000 after acquiring an additional 40 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in The Cigna Group by 178.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock worth $29,000 after acquiring an additional 66 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in The Cigna Group during the 3rd quarter worth approximately $34,000. Horizons Wealth Management lifted its position in The Cigna Group by 370.4% during the 4th quarter. Horizons Wealth Management now owns 127 shares of the health services provider’s stock worth $42,000 after acquiring an additional 100 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in The Cigna Group by 40.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 140 shares of the health services provider’s stock worth $39,000 after purchasing an additional 40 shares during the last quarter. 87.61% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of CI opened at $260.21 on Monday. The company has a market cap of $77.30 billion, a P/E ratio of 12.17, a PEG ratio of 0.91 and a beta of 0.67. The stock has a fifty day moving average price of $292.39 and a 200 day moving average price of $303.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70. The Cigna Group has a 12 month low of $239.50 and a 12 month high of $340.11.

The Cigna Group (NYSE:CI – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The health services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.84 by $0.12. The firm had revenue of $45.75 billion during the quarter, compared to the consensus estimate of $45.79 billion. The Cigna Group had a return on equity of 16.01% and a net margin of 3.69%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $4.77 EPS. On average, research analysts forecast that The Cigna Group will post 24.92 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Wednesday, March 8th were given a dividend of $1.23 per share. This represents a $4.92 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, March 7th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.12. The Cigna Group’s payout ratio is 23.01%.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Wells Fargo & Company downgraded The Cigna Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $370.00 to $355.00 in a report on Tuesday, January 3rd. Raymond James dropped their price objective on The Cigna Group from $370.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $359.00 to $348.00 in a report on Wednesday, February 8th. Loop Capital dropped their price objective on The Cigna Group from $350.00 to $320.00 in a report on Monday, February 6th. Finally, SVB Securities dropped their price objective on The Cigna Group from $335.00 to $309.00 in a report on Wednesday, February 8th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $339.00.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 20,148 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $294.06, for a total transaction of $5,924,720.88. Following the completion of the transaction, the chief executive officer now owns 120,496 shares in the company, valued at approximately $35,433,053.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Cigna Group news, insider Michael W. Triplett sold 1,731 shares of the business’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $271.67, for a total transaction of $470,260.77. Following the completion of the transaction, the insider now owns 30,235 shares in the company, valued at approximately $8,213,942.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 20,148 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the sale, the chief executive officer now owns 120,496 shares of the company’s stock, valued at approximately $35,433,053.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,752 shares of company stock worth $8,008,479. 0.80% of the stock is owned by company insiders.

The Cigna Group Company Profile

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.