The Cigna Group (NYSE:CI) Director Elder Granger Sells 1,000 Shares

The Cigna Group (NYSE:CI) Director Elder Granger sold 1,000 shares of The Cigna Group stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $333.29 on Friday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The company has a market cap of $94.68 billion, a PE ratio of 27.36, a P/E/G ratio of 1.02 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50-day moving average is $344.30 and its 200 day moving average is $328.42.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the previous year, the business earned $5.41 EPS. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Keynote Financial Services LLC purchased a new position in shares of The Cigna Group during the 1st quarter worth approximately $677,000. Mosaic Family Wealth Partners LLC purchased a new position in shares of The Cigna Group during the 1st quarter worth approximately $466,000. Soltis Investment Advisors LLC grew its holdings in shares of The Cigna Group by 2.8% during the 1st quarter. Soltis Investment Advisors LLC now owns 2,299 shares of the health services provider’s stock worth $835,000 after acquiring an additional 63 shares during the period. Garde Capital Inc. purchased a new position in shares of The Cigna Group during the 1st quarter worth approximately $112,000. Finally, Cetera Advisors LLC grew its holdings in shares of The Cigna Group by 166.6% during the 1st quarter. Cetera Advisors LLC now owns 25,771 shares of the health services provider’s stock worth $9,360,000 after acquiring an additional 16,103 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CI shares. Oppenheimer lifted their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Barclays started coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Robert W. Baird started coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $373.87.

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.