SRS Capital Advisors Inc. Sells 517 Shares of The Cigna Group (NYSE:CI)

SRS Capital Advisors Inc. cut its holdings in The Cigna Group (NYSE:CI) by 80.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 122 shares of the health services provider’s stock after selling 517 shares during the period. SRS Capital Advisors Inc.’s holdings in The Cigna Group were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. Collier Financial bought a new position in The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter valued at $34,000. Prospera Private Wealth LLC bought a new position in The Cigna Group in the 3rd quarter valued at $37,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter valued at $37,000. Finally, Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter valued at $45,000. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CI shares. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company cut their price target 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. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stephens cut their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Oppenheimer cut their price target 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. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $372.31.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $321.48 on Friday. The stock has a market cap of $89.42 billion, a PE ratio of 26.26, a PEG ratio of 0.98 and a beta of 0.54. The company’s fifty day moving average is $292.84 and its 200 day moving average is $317.89. The Cigna Group has a 52 week low of $262.03 and a 52 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 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 firm posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. 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. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

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.