The Cigna Group (NYSE:CI) Shares Sold by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lowered its position in The Cigna Group (NYSE:CI) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,589 shares of the health services provider’s stock after selling 395 shares during the period. Sage Mountain Advisors LLC’s holdings in The Cigna Group were worth $439,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB raised its stake in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after buying an additional 119,681 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in The Cigna Group by 5.9% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 2,497 shares of the health services provider’s stock valued at $866,000 after acquiring an additional 139 shares in the last quarter. Sigma Planning Corp raised its position in The Cigna Group by 44.5% during the third quarter. Sigma Planning Corp now owns 3,089 shares of the health services provider’s stock worth $1,070,000 after acquiring an additional 952 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at about $563,000. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of The Cigna Group by 8.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,210 shares of the health services provider’s stock valued at $1,112,000 after purchasing an additional 247 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

NYSE:CI opened at $317.24 on Wednesday. The company has a market cap of $86.82 billion, a P/E ratio of 25.92, a P/E/G ratio of 0.98 and a beta of 0.53. The firm’s 50 day moving average is $294.70 and its two-hundred day moving average is $317.14. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the business earned $6.79 earnings per share. Analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 9,944 shares of the company’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 sale, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial decreased their price target 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.