Insider Selling: The Cigna Group (NYSE:CI) Insider Sells 9,944 Shares of Stock

The Cigna Group (NYSE:CI) insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

The Cigna Group Stock Down 2.1 %

The Cigna Group stock opened at $311.08 on Thursday. The firm has a market cap of $85.14 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The business’s 50-day moving average price is $295.40 and its 200 day moving average price is $317.10. 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 posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 last year, the business earned $6.79 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current 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 issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.94%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Institutional Trading of The Cigna Group

Several hedge funds and other institutional investors have recently bought and sold shares of CI. Norges Bank acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $724,517,000. Raymond James Financial Inc. acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $313,911,000. GQG Partners LLC grew its holdings in The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in The Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider’s stock valued at $225,385,000 after purchasing an additional 600,300 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CI has been the subject of a number of research analyst reports. Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Barclays decreased their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley decreased their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $372.31.

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.