Dumont & Blake Investment Advisors LLC Sells 101 Shares of The Cigna Group (NYSE:CI)

Dumont & Blake Investment Advisors LLC cut its stake in shares of The Cigna Group (NYSE:CIFree Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,046 shares of the health services provider’s stock after selling 101 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in The Cigna Group were worth $1,511,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CI. Trust Point Inc. acquired a new stake in The Cigna Group during the 4th quarter worth approximately $586,000. StrategIQ Financial Group LLC grew its stake in shares of The Cigna Group by 20.7% in the fourth quarter. StrategIQ Financial Group LLC now owns 2,538 shares of the health services provider’s stock worth $760,000 after purchasing an additional 436 shares during the last quarter. Howland Capital Management LLC grew its stake in shares of The Cigna Group by 6.2% in the fourth quarter. Howland Capital Management LLC now owns 1,653 shares of the health services provider’s stock worth $495,000 after purchasing an additional 97 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in The Cigna Group by 22.0% in the fourth quarter. First Citizens Bank & Trust Co. now owns 12,227 shares of the health services provider’s stock valued at $3,661,000 after purchasing an additional 2,205 shares during the period. Finally, Prio Wealth Limited Partnership raised its position in The Cigna Group by 32.6% during the 4th quarter. Prio Wealth Limited Partnership now owns 2,828 shares of the health services provider’s stock worth $847,000 after purchasing an additional 696 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Down 0.7 %

Shares of CI stock traded down $2.41 on Wednesday, reaching $360.68. 826,315 shares of the company were exchanged, compared to its average volume of 1,641,359. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The company has a market cap of $105.45 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.12 and a beta of 0.56. The company has a 50-day moving average of $337.92 and a 200-day moving average of $309.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. Analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s payout ratio is 32.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Wells Fargo & Company increased their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Finally, Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average target price of $361.29.

Check Out Our Latest Report on CI

The Cigna Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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