MV Capital Management Inc. Sells 83 Shares of The Cigna Group (NYSE:CI)

MV Capital Management Inc. lowered its stake in The Cigna Group (NYSE:CI) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 385 shares of the health services provider’s stock after selling 83 shares during the quarter. MV Capital Management Inc.’s holdings in The Cigna Group were worth $106,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. TCTC Holdings LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

The Cigna Group Trading Up 0.1 %

The Cigna Group stock opened at $324.97 on Friday. 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 stock has a 50-day simple moving average of $304.67 and a 200 day simple moving average of $314.08. The stock has a market capitalization of $88.94 billion, a P/E ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period last year, the business earned $6.79 EPS. Analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s payout ratio is presently 49.35%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James reiterated a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial reduced their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $373.25.

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.