Ifrah Financial Services Inc. Decreases Holdings in The Cigna Group (NYSE:CI)

Ifrah Financial Services Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 814 shares of the health services provider’s stock after selling 71 shares during the period. Ifrah Financial Services Inc.’s holdings in The Cigna Group were worth $244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Eads & Heald Wealth Management raised its position in shares of The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after buying an additional 35 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its position in 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 valued at $333,000 after purchasing an additional 35 shares during the period. E&G Advisors LP lifted its stake in shares of The Cigna Group by 1.8% in the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after purchasing an additional 37 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of The Cigna Group by 3.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock worth $374,000 after purchasing an additional 37 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of The Cigna Group by 1.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock valued at $807,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.9 %

Shares of The Cigna Group stock traded down $3.00 during trading on Friday, hitting $341.50. 2,413,548 shares of the stock traded hands, compared to its average volume of 1,380,653. The firm has a market cap of $99.84 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The stock’s fifty day simple moving average is $350.77 and its 200 day simple moving average is $319.59.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same period in the previous year, the company posted $5.41 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts predict that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity

In related news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer lifted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Mizuho upped their target price on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $366.14.

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.