The Cigna Group (NYSE:CI) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its position in shares of The Cigna Group (NYSE:CI) by 63.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 783 shares of the health services provider’s stock after selling 1,351 shares during the quarter. Sigma Planning Corp’s holdings in The Cigna Group were worth $235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parnassus Investments LLC purchased a new stake in The Cigna Group during the 3rd quarter worth about $731,041,000. FMR LLC grew its holdings in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after buying an additional 1,939,554 shares during the period. Cerity Partners LLC grew its holdings in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after buying an additional 538,274 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock valued at $3,385,282,000 after buying an additional 345,605 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in The Cigna Group by 21,324.4% in the 4th quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock valued at $85,583,000 after buying an additional 284,467 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was 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 directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was 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 directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the transaction, the insider now owns 44,649 shares of the company’s stock, valued at $15,180,660. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research reports. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Oppenheimer reiterated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Stock Performance

Shares of CI opened at $354.47 on Monday. The business’s 50 day moving average is $349.88 and its two-hundred day moving average is $318.15. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The firm has a market cap of $103.63 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.09 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

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

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

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.