The Cigna Group (NYSE:CI) Insider Nicole S. Jones Sells 4,904 Shares

The Cigna Group (NYSE:CI) insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The Cigna Group Price Performance

CI stock traded down $2.61 during midday trading on Tuesday, reaching $308.90. The company had a trading volume of 1,547,297 shares, compared to its average volume of 1,858,643. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $85.92 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.98 and a beta of 0.54. The firm has a 50-day moving average price of $290.71 and a 200-day moving average price of $318.11.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 previous year, the firm posted $6.79 earnings per share. On average, research analysts anticipate that The Cigna Group will post 29.77 earnings per share 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. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. The Cigna Group’s dividend payout ratio is 49.35%.

Hedge Funds Weigh In On The Cigna Group

Several institutional investors and hedge funds have recently made changes to their positions in CI. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at $25,000. Collier Financial bought a new position in shares of The Cigna Group during the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at $34,000. Putney Financial Group LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at $36,000. Finally, Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter valued at $37,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CI shares. Wells Fargo & Company dropped their price target on shares of 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. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock 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 given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $372.31.

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.