The Cigna Group (NYSE:CI) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its holdings in shares of The Cigna Group (NYSE:CI) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,080 shares of the health services provider’s stock after selling 716 shares during the period. SVB Wealth LLC’s holdings in The Cigna Group were worth $2,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Avestar Capital LLC increased its holdings in The Cigna Group by 0.8% in the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock worth $1,312,000 after acquiring an additional 35 shares in the last quarter. Eads & Heald Wealth Management increased its stake in shares of The Cigna Group by 1.7% during the third quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after purchasing an additional 35 shares in the last quarter. Relyea Zuckerberg Hanson LLC increased its stake in shares of The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after purchasing an additional 35 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of The Cigna Group by 4.8% during the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock worth $224,000 after purchasing an additional 36 shares during the last quarter. Finally, Wambolt & Associates LLC lifted its stake in The Cigna Group by 1.4% in the 2nd quarter. Wambolt & Associates LLC now owns 2,536 shares of the health services provider’s stock valued at $712,000 after buying an additional 36 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CI has been the topic of several research reports. Oppenheimer restated an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $327.00 to $354.00 in a report on Monday, February 5th. Wells Fargo & Company upped their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $362.14.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Down 0.3 %

Shares of CI opened at $345.86 on Thursday. The company’s 50-day moving average price is $347.73 and its 200 day moving average price is $314.79. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $101.12 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the previous year, the firm earned $4.96 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.62%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s dividend payout ratio is 32.20%.

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.