SeaCrest Wealth Management LLC Lowers Holdings in The Cigna Group (NYSE:CI)

SeaCrest Wealth Management LLC trimmed its position in The Cigna Group (NYSE:CI) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,303 shares of the health services provider’s stock after selling 43 shares during the period. SeaCrest Wealth Management LLC’s holdings in The Cigna Group were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CI. Sanders Capital LLC increased its stake in 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 worth $2,314,068,000 after acquiring an additional 97,277 shares during the last quarter. Morgan Stanley lifted its position in The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after purchasing an additional 225,115 shares during the last quarter. Norges Bank purchased a new position in The Cigna Group in the 4th quarter worth approximately $1,006,348,000. Parnassus Investments LLC increased its holdings 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 worth $803,143,000 after buying an additional 126,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in The Cigna Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after purchasing an additional 53,414 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $325.91 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm’s fifty day simple moving average is $340.69 and its 200 day simple moving average is $333.60. The stock has a market cap of $92.58 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

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

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays started coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Oppenheimer increased their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. 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 stock currently has an average rating of “Buy” and a consensus price target of $376.20.

Insider Activity 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 value of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock worth $7,975,726 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

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.