Insider Selling: The Cigna Group (NYSE:CI) Director Sells $737,391.60 in Stock

The Cigna Group (NYSE:CI) Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

The Cigna Group Stock Performance

NYSE:CI opened at $320.74 on Thursday. The stock’s 50-day moving average is $299.23 and its 200-day moving average is $315.68. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $87.78 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 last year, the company earned $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swedbank AB raised its position in shares of The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after acquiring an additional 119,681 shares during the last quarter. Harbour Investments Inc. raised its holdings in The Cigna Group by 23.6% during the 3rd quarter. Harbour Investments Inc. now owns 661 shares of the health services provider’s stock worth $229,000 after purchasing an additional 126 shares during the last quarter. Curi RMB Capital LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $330,000. KPP Advisory Services LLC boosted its stake in shares of The Cigna Group by 8.6% in the 3rd quarter. KPP Advisory Services LLC now owns 1,277 shares of the health services provider’s stock valued at $442,000 after purchasing an additional 101 shares during the last quarter. Finally, Seizert Capital Partners LLC increased its position in shares of The Cigna Group by 203.0% during the third quarter. Seizert Capital Partners LLC now owns 125,529 shares of the health services provider’s stock worth $43,488,000 after buying an additional 84,096 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the subject of several recent analyst reports. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Oppenheimer reduced their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has a consensus 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.