The Cigna Group (NYSE:CI) Insider Sells $1,511,020.48 in Stock

The Cigna Group (NYSE:CI) insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

The Cigna Group Trading Down 0.8 %

Shares of NYSE:CI opened at $308.90 on Wednesday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $290.71 and its 200 day simple moving average is $318.11. The firm has a market cap of $85.92 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $6.79 EPS. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Institutional Investors Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new stake in The Cigna Group in the 4th quarter valued at $62,000. Total Wealth Planning & Management Inc. acquired a new stake in The Cigna Group in the 4th quarter valued at $402,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in The Cigna Group in the 4th quarter valued at $77,488,000. Employees Retirement System of Texas increased its stake in The Cigna Group by 19.8% in the 4th quarter. Employees Retirement System of Texas now owns 35,432 shares of the health services provider’s stock valued at $9,784,000 after buying an additional 5,867 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its stake in The Cigna Group by 184.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 20,037 shares of the health services provider’s stock valued at $5,533,000 after buying an additional 13,001 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on CI. UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley reduced their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.