Elder Granger Sells 2,376 Shares of The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CI) Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

The Cigna Group Stock Up 1.4 %

Shares of CI stock traded up $4.33 during trading hours on Monday, hitting $317.23. 1,139,454 shares of the company were exchanged, compared to its average volume of 1,551,599. 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 Cigna Group has a one year low of $262.03 and a one year high of $370.83. The business’s 50-day simple moving average is $296.79 and its two-hundred day simple moving average is $316.23. The stock has a market capitalization of $86.82 billion, a price-to-earnings ratio of 25.92, a P/E/G 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm posted $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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

Institutional Trading of The Cigna Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial bought a new position in The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the fourth quarter worth $34,000. Putney Financial Group LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at $36,000. Finally, Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the third quarter worth about $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CI. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays dropped their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.