The Cigna Group (NYSE:CI) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its stake in shares of The Cigna Group (NYSE:CI) by 33.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,179 shares of the health services provider’s stock after selling 1,092 shares during the quarter. Cypress Capital Group’s holdings in The Cigna Group were worth $602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of The Cigna Group by 9.9% during the 4th quarter. Victory Capital Management Inc. now owns 544,268 shares of the health services provider’s stock worth $150,294,000 after purchasing an additional 48,865 shares during the period. Exencial Wealth Advisors LLC increased its position in The Cigna Group by 2.3% in the 4th quarter. Exencial Wealth Advisors LLC now owns 6,605 shares of the health services provider’s stock valued at $1,824,000 after acquiring an additional 148 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in The Cigna Group by 231.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 8,245 shares of the health services provider’s stock valued at $2,269,000 after acquiring an additional 5,758 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in The Cigna Group by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock valued at $546,138,000 after acquiring an additional 64,138 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in The Cigna Group by 175.3% during the 4th quarter. State of Michigan Retirement System now owns 235,741 shares of the health services provider’s stock valued at $65,098,000 after acquiring an additional 150,100 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $309.84 on Thursday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54. The stock’s fifty day simple moving average is $291.31 and its 200-day simple moving average is $318.05.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company posted $6.79 EPS. On average, sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 represents a $6.04 dividend on an annualized basis and a yield of 1.95%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Truist Financial dropped their price objective on 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus 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.