The Cigna Group (NYSE:CI) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,064 shares of the health services provider’s stock after selling 80 shares during the period. Lindbrook Capital LLC’s holdings in The Cigna Group were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC bought a new position in The Cigna Group during the 3rd quarter valued at $37,000. Collier Financial bought a new position in The Cigna Group during the fourth quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter worth about $45,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter worth about $37,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

CI stock opened at $315.54 on Friday. The firm has a 50 day simple moving average of $291.99 and a 200 day simple moving average of $318.03. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market cap of $87.77 billion, a P/E ratio of 25.78, a P/E/G ratio of 0.98 and a beta of 0.54. 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 Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the business posted $6.79 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Oppenheimer reduced their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.