The Cigna Group (NYSE:CI) CEO David Cordani Sells 26,527 Shares

The Cigna Group (NYSE:CI) CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

The Cigna Group Trading Up 0.3 %

Shares of CI opened at $309.84 on Thursday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company’s fifty day moving average is $291.31 and its 200 day moving average is $318.05. The stock has a market capitalization of $86.18 billion, a PE ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 in the prior year, the company earned $6.79 earnings per share. Sell-side analysts expect that The Cigna Group will post 29.77 earnings per share 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. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.95%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. 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 for the company. in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Raymond James reiterated a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $372.31.

Hedge Funds Weigh In On The Cigna Group

Large investors have recently modified their holdings of the stock. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter worth $25,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $34,000. Putney Financial Group LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth about $36,000. Finally, Prospera Private Wealth LLC bought a new position in The Cigna Group during the 3rd quarter valued at about $37,000. Institutional investors own 86.99% of the company’s stock.

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.