David Cordani Sells 26,527 Shares of The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CI) CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

The Cigna Group Stock Down 0.8 %

Shares of CI traded down $2.61 during mid-day trading on Tuesday, hitting $308.90. The company’s stock had a trading volume of 1,547,297 shares, compared to its average volume of 1,858,643. The company’s 50-day moving average is $290.71 and its 200-day moving average is $318.11. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market capitalization of $85.92 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 previous year, the firm posted $6.79 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $62,000. Total Wealth Planning & Management Inc. bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $402,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in The Cigna Group during the 4th quarter valued at approximately $77,488,000. Employees Retirement System of Texas increased its stake in The Cigna Group by 19.8% during the 4th quarter. Employees Retirement System of Texas now owns 35,432 shares of the health services provider’s stock valued at $9,784,000 after purchasing an additional 5,867 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its stake in The Cigna Group by 184.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 20,037 shares of the health services provider’s stock valued at $5,533,000 after purchasing an additional 13,001 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent analyst reports. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley dropped their price target on shares of 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. Cantor Fitzgerald lowered their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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.