The Cigna Group (NYSE:CI) Director Elder Granger Sells 2,376 Shares

The Cigna Group (NYSE:CI) Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

The Cigna Group Stock Up 1.4 %

CI stock opened at $317.23 on Tuesday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a market capitalization of $86.82 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 has a fifty day moving average of $297.55 and a 200-day moving average of $315.92.

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

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis 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 (DPR) is currently 49.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CI shares. Wells Fargo & Company lowered their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley reduced their price target 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. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $372.31.

Hedge Funds Weigh In On The Cigna Group

Hedge funds have recently added to or reduced their stakes in the business. 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 in the third quarter worth approximately $37,000. Collier Financial acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $34,000. Finally, Putney Financial Group LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $36,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

About The Cigna Group

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.