The Cigna Group (NYSE:CI) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lowered its stake in shares of The Cigna Group (NYSE:CI) by 35.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,597 shares of the health services provider’s stock after selling 10,734 shares during the quarter. Congress Wealth Management LLC DE’s holdings in The Cigna Group were worth $5,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CI. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CI has been the topic of a number of analyst reports. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Truist Financial decreased their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Raymond James restated 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 report on Friday, January 31st. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. 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 company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Trading Down 1.2 %

Shares of CI stock opened at $316.64 on Wednesday. The Cigna Group has a twelve month low of $262.03 and a twelve month 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 business’s 50 day moving average is $302.25 and its two-hundred day moving average is $314.19. The company has a market capitalization of $86.66 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 company posted $6.79 EPS. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group’s payout ratio is presently 49.35%.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated 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 owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.60% of the company’s stock.

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.