The Cigna Group (NYSE:CI) Director Elder Granger Sells 2,376 Shares

The Cigna Group (NYSE:CI) Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The Cigna Group Stock Up 1.7 %

Shares of The Cigna Group stock opened at $322.15 on Wednesday. The firm’s 50 day moving average price is $298.39 and its 200-day moving average price is $315.64. 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 has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market cap of $88.17 billion, a P/E ratio of 26.32, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $6.79 earnings per share. On average, sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.87%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Institutional Trading of The Cigna Group

Institutional investors have recently bought and sold shares of the stock. Sterling Financial Group Inc. acquired a new stake in The Cigna Group in the 4th quarter worth approximately $4,367,000. Principal Financial Group Inc. boosted its stake in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after acquiring an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Barclays cut their target price on shares of 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 investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average 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.