Spire Wealth Management Sells 53 Shares of The Cigna Group (NYSE:CI)

Spire Wealth Management lowered its holdings in shares of The Cigna Group (NYSE:CI) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,757 shares of the health services provider’s stock after selling 53 shares during the quarter. Spire Wealth Management’s holdings in The Cigna Group were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CI. Eads & Heald Wealth Management grew its holdings in shares of The Cigna Group by 1.7% during the third quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after buying an additional 35 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in shares of The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after purchasing an additional 35 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of The Cigna Group by 3.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock valued at $374,000 after buying an additional 37 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of The Cigna Group by 1.4% in the third quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock valued at $807,000 after buying an additional 39 shares in the last quarter. Finally, Breakwater Capital Group increased its holdings in The Cigna Group by 3.5% during the fourth quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock worth $349,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Morgan Stanley reissued an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Price Performance

The Cigna Group stock opened at $347.31 on Thursday. The stock’s fifty day moving average price is $350.89 and its two-hundred day moving average price is $320.21. The firm has a market cap of $98.66 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a one year low of $240.50 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the prior year, the business posted $5.41 earnings per share. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.61%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insiders Place Their Bets

In other news, CEO David Cordani sold 31,209 shares of The Cigna Group 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 owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The disclosure for this sale can be found here. Insiders sold 109,277 shares of company stock worth $37,687,884 over the last three months. Insiders own 0.70% of the company’s stock.

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.