Elder Granger Sells 2,376 Shares of The Cigna Group (NYSE:CI) Stock

by · The Markets Daily

The Cigna Group (NYSE:CI – Get Free Report) Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

The Cigna Group Price Performance

The Cigna Group stock opened at $322.15 on Wednesday. The company has a market cap of $88.17 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 0.98 and a beta of 0.53. The firm’s fifty day moving average is $298.39 and its 200 day moving average is $315.64. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI – Get Free Report) last released its quarterly 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 in the previous year, the company posted $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.87%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Institutional Investors Weigh In On The Cigna Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $25,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at $37,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $34,000. Finally, Putney Financial Group LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CI shares. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald dropped their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays dropped their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $372.31.

View Our Latest Stock Analysis on The Cigna Group

About The Cigna Group

(Get 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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