Insider Selling: The Cigna Group (NYSE:CI) Insider Sells 4,904 Shares of Stock

The Cigna Group (NYSE:CI) insider Nicole S. Jones sold 4,904 shares of the firm’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 $1,511,020.48. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this link.

The Cigna Group Stock Performance

Shares of CI stock opened at $309.84 on Thursday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company’s 50-day moving average is $291.31 and its 200 day moving average is $318.05. The company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the company earned $6.79 EPS. Sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm 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%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost 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

Several institutional investors have recently made changes to their positions in CI. Swedbank AB lifted its stake in shares of The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of The Cigna Group by 42.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,877 shares of the health services provider’s stock worth $650,000 after purchasing an additional 555 shares during the period. Pure Financial Advisors LLC lifted its stake in shares of The Cigna Group by 6.3% in the 3rd quarter. Pure Financial Advisors LLC now owns 898 shares of the health services provider’s stock worth $311,000 after purchasing an additional 53 shares during the period. Janney Montgomery Scott LLC raised its stake in The Cigna Group by 4.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 31,664 shares of the health services provider’s stock worth $10,970,000 after acquiring an additional 1,372 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the 3rd quarter worth approximately $45,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CI shares. Truist Financial dropped their price objective 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. Piper Sandler reiterated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Barclays lowered their target price 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. Finally, Morgan Stanley lowered their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. 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 company. According to data from MarketBeat, The Cigna Group presently 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.