The Cigna Group (NYSE:CI) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC reduced its position in The Cigna Group (NYSE:CI) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 897 shares of the health services provider’s stock after selling 54 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in The Cigna Group were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter valued at $37,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter worth about $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group in the 4th quarter valued at about $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CI. Stephens lowered their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Raymond James restated a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Barclays dropped their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $372.31.

Insider Buying and Selling

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,375 shares of company stock valued at $12,866,600 in the last quarter. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Up 0.4 %

Shares of CI stock opened at $313.35 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm’s 50-day simple moving average is $296.79 and its 200-day simple moving average is $316.52. The firm has a market cap of $85.76 billion, a P/E ratio of 25.60, a PEG ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business posted $6.79 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company 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 dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.