Axxcess Wealth Management LLC Sells 133 Shares of The Cigna Group (NYSE:CI)

Axxcess Wealth Management LLC reduced its position in The Cigna Group (NYSE:CI) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,109 shares of the health services provider’s stock after selling 133 shares during the quarter. Axxcess Wealth Management LLC’s holdings in The Cigna Group were worth $306,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CI. Swedbank AB boosted its position in shares of The Cigna Group by 26.6% in the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after acquiring an additional 119,681 shares during the period. Prospera Financial Services Inc boosted its position in shares of The Cigna Group by 9.2% in the third quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider’s stock valued at $480,000 after acquiring an additional 116 shares during the period. Avior Wealth Management LLC lifted its position in The Cigna Group by 121.6% during the third quarter. Avior Wealth Management LLC now owns 1,157 shares of the health services provider’s stock valued at $401,000 after purchasing an additional 635 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the third quarter valued at approximately $37,000. Finally, Advisors Asset Management Inc. lifted its position in The Cigna Group by 1.9% during the third quarter. Advisors Asset Management Inc. now owns 7,141 shares of the health services provider’s stock valued at $2,474,000 after purchasing an additional 132 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were 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. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Down 1.4 %

Shares of NYSE CI opened at $316.78 on Friday. 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 Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm’s fifty day moving average is $300.83 and its 200 day moving average is $315.05. The company has a market cap of $86.70 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 quarter in the previous year, the company earned $6.79 earnings per share. On average, equities research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

The Cigna Group 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.