Sequoia Financial Advisors LLC Sells 1,355 Shares of The Cigna Group (NYSE:CI)

Sequoia Financial Advisors LLC lessened its stake in The Cigna Group (NYSE:CI) by 26.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,758 shares of the health services provider’s stock after selling 1,355 shares during the period. Sequoia Financial Advisors LLC’s holdings in The Cigna Group were worth $1,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sanders Capital LLC lifted its stake in shares of The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after acquiring an additional 97,277 shares during the last quarter. Morgan Stanley lifted its stake in shares of The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after acquiring an additional 225,115 shares during the last quarter. Norges Bank bought a new stake in shares of The Cigna Group in the 4th quarter valued at about $1,006,348,000. Parnassus Investments LLC lifted its stake in shares of The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after acquiring an additional 126,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of The Cigna Group by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after acquiring an additional 53,414 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CI. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Finally, Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 1.9 %

Shares of The Cigna Group stock traded down $6.31 during midday trading on Friday, hitting $319.12. The company had a trading volume of 1,611,976 shares, compared to its average volume of 1,294,959. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $90.65 billion, a P/E ratio of 26.20, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a 50 day moving average of $338.32 and a 200 day moving average of $333.92. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.41 EPS. On average, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.75%. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. Insiders own 0.70% of the company’s stock.

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.