Insider Selling: The Cigna Group (NYSE:CI) Director Sells $737,391.60 in Stock

The Cigna Group (NYSE:CI) Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

The Cigna Group Trading Up 1.4 %

Shares of The Cigna Group stock traded up $4.33 on Monday, reaching $317.23. 1,139,454 shares of the company were exchanged, compared to its average volume of 1,551,599. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market capitalization of $86.82 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $296.79 and a 200-day moving average price of $316.23.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company posted $6.79 EPS. On average, analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Hedge Funds Weigh In On The Cigna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $25,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the third quarter worth approximately $37,000. Collier Financial purchased a new position in The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the 4th quarter valued at approximately $34,000. Finally, Putney Financial Group LLC purchased a new stake in The Cigna Group in the 4th quarter worth approximately $36,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CI. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $372.31.

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.