Insider Selling: The Cigna Group (NYSE:CI) CEO Sells $11,084,500.53 in Stock

The Cigna Group (NYSE:CI) CEO David Cordani sold 31,209 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

David Cordani also recently made the following trade(s):

• On Friday, March 22nd, David Cordani sold 6,338 shares of The Cigna Group stock. The stock was sold at an average price of $355.11, for a total value of $2,250,687.18.
• On Wednesday, March 13th, David Cordani sold 13,761 shares of The Cigna Group stock. The stock was sold at an average price of $347.33, for a total value of $4,779,608.13.
• On Thursday, March 7th, David Cordani sold 2,412 shares of The Cigna Group stock. The shares were sold at an average price of $345.73, for a total value of $833,900.76.
• On Tuesday, February 27th, David Cordani sold 2,000 shares of The Cigna Group stock. The shares were sold at an average price of $345.04, for a total value of $690,080.00.
• On Friday, February 23rd, David Cordani sold 6,319 shares of The Cigna Group stock. The shares were sold at an average price of $345.24, for a total value of $2,181,571.56.
• On Monday, February 12th, David Cordani sold 2,073 shares of The Cigna Group stock. The shares were sold at an average price of $336.81, for a total value of $698,207.13.
• On Friday, February 9th, David Cordani sold 38,065 shares of The Cigna Group stock. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30.

The Cigna Group Stock Performance

NYSE CI opened at $363.38 on Thursday. The business’s 50-day moving average price is $332.16 and its 200 day moving average price is $307.08. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $364.71. The company has a market capitalization of $106.24 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 earnings per share. On average, research analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Hedge Funds Weigh In On The Cigna Group

A number of large investors have recently modified their holdings of CI. Axiom Financial Strategies LLC purchased a new position in shares of The Cigna Group in the 1st quarter worth about $212,000. Fairfield Bush & CO. acquired a new stake in shares of The Cigna Group in the first quarter valued at about $40,000. Cibc World Market Inc. grew its stake in shares of The Cigna Group by 52.6% in the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after buying an additional 6,538 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of The Cigna Group by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after buying an additional 566 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of The Cigna Group by 36.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after buying an additional 343 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on CI shares. Oppenheimer reissued an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $372.00 price objective on shares of The Cigna Group in a research report on Monday, March 4th. Wells Fargo & Company upped their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Mizuho upped their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $361.29.

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.