The Cigna Group (NYSE:CI) Insider Noelle K. Eder Sells 9,944 Shares

The Cigna Group (NYSE:CI) insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

The Cigna Group Trading Down 2.9 %

CI stock traded down $9.44 on Tuesday, reaching $317.24. The company’s stock had a trading volume of 1,955,263 shares, compared to its average volume of 1,870,027. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The business has a fifty day simple moving average of $293.88 and a two-hundred day simple moving average of $317.40. The firm has a market cap of $86.82 billion, a PE ratio of 25.92, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 prior year, the company earned $6.79 earnings per share. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.90%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Truist Financial reduced their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Oppenheimer cut their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two 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 MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $372.31.

Institutional Investors Weigh In On The Cigna Group

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

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.