Ellevest Inc. Decreases Position in The Cigna Group (NYSE:CI)

Ellevest Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 12.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,857 shares of the health services provider’s stock after selling 257 shares during the period. Ellevest Inc.’s holdings in The Cigna Group were worth $513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial purchased a new stake in The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the 4th quarter worth $34,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group in the 4th quarter worth $37,000. Finally, Transce3nd LLC purchased a new position in The Cigna Group in the 4th quarter valued at about $38,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated 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 directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.2 %

Shares of The Cigna Group stock opened at $333.79 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market capitalization of $89.17 billion, a P/E ratio of 27.27, a PEG ratio of 0.98 and a beta of 0.47. The business’s fifty day moving average price is $325.84 and its two-hundred day moving average price is $310.12. 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 released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The Cigna Group’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $6.47 EPS. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CI shares. Truist Financial boosted their price target on The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Wells Fargo & Company reduced their target price 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. Cantor Fitzgerald lifted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Cowen reiterated a “buy” rating on shares of The Cigna Group in a research note on Monday. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $378.22.

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.